40% Year-on-Year Unit Growth by Ascott – Vietnam Properties Amongst Major Additions

In the first seven months of 2021, The Ascott Limited (Ascott), the wholly-owned lodging business unit of CapitaLand achieved an impressive 40% year-on-year unit growth when compared to the same period last year. Up to July this year, it had secured more than 30 properties encompassing over 8,300 units; this also marked the fourth year in a row that Ascott had achieved record growth even though it was faced with a global pandemic.

The brand which additionally launched the Discover ASR website in July 2021 that brought together its serviced apartments, hotels and co-living spaces under one platform has made significant additions to its portfolio; a key highlight was the contract to manage Vietnam’s largest serviced residence development which will feature more than 1,900 units. Located in Hanoi, this integrated development will showcase three Ascott brands namely Ascott The Residence, Citadines Apart’hotel and for the first time in the country, The Crest Collection.