The Ascott Limited (Ascott) signed a record 19,000 units across 102 properties in 2025, marking 27% year-on-year growth in new signings, driven by expansions in the resorts, franchise and conversions markets.
The growth strategy is a “deliberate” one, as Ascott deep dives into a multi-typology approach – offering a broader range of accommodation types to cater to diverse traveller needs.
Related: What to expect from Ascott’s multi-typology strategy
“Approximately 30% of new signings came from existing partners expanding with us, underscoring trust in Ascott’s platform and our ability to meet diverse traveller and resident needs worldwide,” said Ascott’s chief growth officer, Serena Lim.
Ascott entered more than 10 new cities in Asia Pacific and Europe, including first properties in Wellington (lyf by end 2026) and Taipei (Ascott by 1Q 2027), resort destinations such as Phuket, Phu Quoc and Langkawi, as well as emerging tier two cities like Lucknow and Thanjavur in India.
The branded residences portfolio also expanded, mainly on the back of two new properties in Thailand and China. Together adding over 1,000 keys are Residences at Ascott Abov Patong Phuket, and Oakwood Premier Branded Residences Luohu Shenzhen, co-located with Oakwood Premier Luohu Shenzhen.
Meanwhile, more than a quarter of the units signed in 2025 were under franchise agreements, supporting Ascott’s asset-light expansion – with a focus on East Asia. These included five Quest properties and four Citadines branded properties in China.
The largest franchise signing of the year was the 510 key Oakwood in Gangneung, South Korea, a resort-led development in Gangneung’s Cultural Olympic Special Zone with established connectivity to Seoul.
About a third (38%) of 2025 signings were conversions, which Ascott points to owners’ preference for faster, lower-risk routes to market. Recent projects include Citadines Antasari Jakarta, Oakwood Bencoolen Singapore and lyf Zhangjiang Shanghai.
Ascott’s collection brands continued their geographic expansion, including The Crest Collection in the Middle East, while Oakwood secured 16 signings and Citadines inking 17 signings.
The flagship Ascott brand recorded 10 new signings, including the Ascott Coronation Square Johor Bahru, as well as Ascott Shenton Way Singapore, both ahead of the highly-anticipated upcoming Rapid Transit System Link connecting Singapore and Malaysia.