Monday, 02/08/2021 17:22

Ascott achieves over 40 per cent y-o-y unit growth boosted by record signings in VN

HÀ NỘI - CapitaLand’s wholly-owned lodging business unit, The Ascott Limited (Ascott), secured over 8,300 units across more than 30 properties in the first seven months of 2021, achieving over 40 per cent year-on-year (y-o-y) growth compared to the same period in 2020. 

This builds on Ascott’s fourth consecutive year of record growth despite COVID-19, delivering a 20 per cent compound annual growth rate (CAGR) since 2017. Ascott’s unit growth up to this month was boosted by record signings in Vietnam, with a total of 2,800 new units, exceeding its full-year signings, in the country, in previous years. 

Ascott’s portfolio in Việt Nam spans over 9,888 units across 36 properties in eleven cities and provinces. In addition to the gateway cities of HCM City and Hà Nội, Ascott also has properties in Lào Cai and Bình Dương provinces and the cities of Hải Phòng, Hạ Long, Hội An, Đà Nẵng, Nha Trang, Cam Ranh and Vũng Tàu. Among the new units signed, 1,900 units belong to the largest serviced residence development in the country.

Ascott continues to be the preferred choice of accommodation by providing a safe haven and inspired living experience for guests. Photo courtesy of Ascott

The iconic integrated development in the capital will feature three of Ascott’s lodging brands. It marks the introduction of The Crest Collection in the country and Ascott The Residence in Hà Nội and will comprise Ascott’s fastest-growing brand Citadines Apart’hotel. The development is expected to open in phases from 2022.

In addition, Ascott has secured two management contracts for the first time in Lào Cai: a Citadines-branded serviced apartment and the first Préférence-branded hotel in Việt Nam, the 167-key Paddy Field Hotel by Préférence in Sa Pa Town. 

Lew Yen Ping, Ascott’s Regional General Manager of Việt Nam, Cambodia and Myanmar said: “Ascott’s serviced residences have remained resilient amid the pandemic. We continue to be the preferred choice of accommodation by providing a safe haven for our guests who have placed their trust in Ascott. This year, we continued to achieve strong growth by stepping up our expansion with more management contracts and strategic partnerships in Việt Nam.”

In July 2021, Ascott launched, unifying Ascott’s award-winning lodging brands on a single global online travel booking platform. provides guests with one-stop access to Ascott’s more than 400 serviced apartments, co-living spaces and hotels with a total of about 77,000 units, across more than 130 cities in over 30 countries.

To celebrate the launch of, Ascott has kicked off ‘The Traveller’s Discovery’ campaign to debut Ascott’s first-ever non-fungible token (NFT) collectable series, featuring 11 unique NFTs as prizes for members of its loyalty programme Ascott Star Rewards (ASR).

Through its partnership with International SOS, Ascott is the first hospitality company in the world to offer its guests global access to a comprehensive suite of telehealth, telecounselling and travel security advisory services. These complimentary services are part of Ascott’s enhanced ‘Ascott Cares’ commitment to provide stringent hygiene and safety standards, wellness support and implement sustainable practices. VNS

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