Lodging Management

CapitaLand Investment’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is a leading vertically-integrated lodging owner-operator. Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with over 950 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA. 

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A key contributor to CLI's fee-related business, Ascott provides a strong and recurring income stream to CLI. Ascott aims to double its fee revenue to double fee revenue to over S$500 million by 2028. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

In 2024, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott’s ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at www.discoverasr.com/ascottunlimited.

A resilient lodging business model well-positioned for growth
  • Vertically-integrated lodging platform to drive growth in fee-related earnings and funds under management

  • Asset-light with more than 80% of units are under management and franchise contracts

  • Achieved record fee earnings and property openings in FY 2023

  • Extensive experience in managing a diverse portfolio of accommodation types with a flex-hybrid model

A Resilient And Differentiated Business Model Powered By Two Engines of Growth

Best-In-Class Global Lodging Operator

Award-winning lodging brands established for 40 years

For the full list of Ascott properties, please visit https://www.discoverasr.com/.

  • Direct access to a wide customer network with increased customer stickiness through the Ascott Star Rewards - a loyalty programme that serves as a direct source of income for Ascott

  • Unifying 14 lodging brands on one global online travel booking platform: discoverasr.com. The platform provides guests with one-stop access to Ascott’s serviced apartments, coliving spaces and hotels

  • Highly connected digital touchpoints to deliver superior guest experiences

  • Technology and process re-design to improve operational efficiency while keeping costs in check

  • Through Ascott’s sustainability programme, Ascott CARES, it aligns its growth strategy with environmental, social and governance considerations. Ascott CARES centres around five pillars - Community, Alliance, Respect, Environment and Supply Chain.

Global Lodging Real Estate Investment Manager

In addition to increasing its recurring fee income by securing more management and franchise contracts, Ascott’s growth strategy also includes investing in quality lodging properties, including via its investment vehicles such as its sponsored lodging trust, CapitaLand Ascott Trust (CLAS) and its private funds, Ascott Serviced Residence Global Fund (ASRGF), CapitaLand Ascott Residence Asia Fund II (CLARA II) and Student Accommodation Development Venture (SAVE). Combining CLI’s investment management capabilities and Ascott’s expertise in operating lodging properties worldwide, Ascott is well-positioned to support the growth of its lodging trust and private funds.

CapitaLand Ascott Trust (CLAS) is the largest lodging trust in Asia Pacific. It invests primarily in income-producing real estate and real estate-related assets which are used or predominantly used as serviced residences, rental housing properties, student accommodation and other hospitality assets.
  • Opened in 2023, Citadines Walker North Sydney is at the epicentre of North Sydney’s commercial, retail, and social scenes, surrounded by bars, restaurants, and healthcare services.

  • Ascott Serviced Residence Global Fund (ASRGF)

    Established in 2015, ASRGF focuses on assets in prime locations within key gateway cities. Under the fund, Ascott has acquired several properties across Australia, China, France, Indonesia, Japan, Netherlands, Singapore, United Kingdom and Vietnam.
  • CLARA II acquired two seed assets, a 50% stake in the 308-unit lyf Bugis Singapore and a 100% stake in the 200-unit lyf Shibuya Tokyo in Japan (pictured) from Ascott.

  • CapitaLand Ascott Residence Asia Fund II (CLARA II)

    Established in 2024, CLARA II invests in serviced residences and coliving properties in gateway cities in key developed Asia Pacific markets. CLARA II is the follow-on fund to ASRGF.

    CLI holds a 20% sponsor stake while the remaining 80% is held by third-party institutional investors.  CLARA II leverages the global operating expertise of Ascott to manage its portfolio. CLARA II has secured its first close with equity commitment by global institutional investors from Europe and Asia. 

  • SAVE's first investment is a Class A freehold student accommodation development asset in Lincoln, Nebraska, USA.

  • Student Accommodation Development Venture (SAVE)

    Established in 2022, SAVE is Ascott's development venture to develop student accommodation assets in the USA. Ascott manages the venture and holds a 20% stake in the joint venture while the remaining stake is held by Riyad Capital. 

CLI and Ascott proactively manages its portfolio to create sustainable returns for investors and capital partners. This includes asset enhancement initiatives or converting the assets to optimise the performance and value of its properties. 

  • The Robertson House by The Crest Collection

  • The Robertson House by The Crest Collection along the iconic Singapore River was unveiled on 14 October 2023 having undergone refurbishment within a short span of seven months.

    Ascott worked closely with its sponsored lodging trust, CLAS to renovate The Robertson House by The Crest Collection. Formerly the Riverside Hotel Robertson Quay, the hotel was rebranded as The Robertson House by The Crest Collection in Singapore after a phased renovation.


Ascott constantly evaluates the growth potential of its properties and seek divestment opportunities for those which have reached an optimal stage of their life cycle. Sale proceeds could be redeployed into higher-yielding investments, asset enhancement initiatives, repayment of borrowings and to enhance its flexibility to capture growth opportunities.

With a global presence and strong business development teams on the ground, Ascott has the distinct capacity to create value by connecting its partners with investment opportunities. Leveraging its extensive local knowledge, Ascott is able to access off-market investment deals and match them with a ready pool of trusted lodging property owners and capital partners.