The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment Limited (CLI), has achieved its target to secure 160,000 units by 2023, with the signing of over 4,000 units in 1Q this year. Sharpening its focus on quality growth, Ascott is renewing its target to double fee revenue to more than S$500 million in the next five years. The fee revenue target is set off the FY 2022 base of S$258 million – the highest earnings on record for Ascott. Fee revenue from the lodging business increased by 36% year-on-year (y-o-y) in FY 2022 on the back of record signings and property openings. This demonstrates Ascott’s strength as a key contributor of fee-related earnings to CLI’s overall business.
The Ascott Limited (Ascott), a Singapore company that has grown to be one of the leading international lodging owner-operators, with portfolio spanning over 224 cities across 43 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA, today announced that hospitality industry veteran Serena Lim had been named as its new Chief Growth Officer.
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