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Ascott Achieves Over 40% Y-O-Y Unit Growth Globally Boosted by Record Signings in Vietnam
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Ascott achieves over 40% y-o-y unit growth globally boosted by record signings in Vietnam
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Ascott reaches over 40% YoY unit growth Staff Reporter © Provided by Singapore Business Review
Ascott Limited, secured over 8,300 units in more than 30 properties in the first seven months of the year, a 40% year-on-year growth from the same period in 2020, on the back of record signings in Vietnam.
Ascott, a wholly-owned lodging business unit of CapitaLand, said this is the fourth consecutive year of record growth despite the coronavirus pandemic, delivering about 20% of compound annual growth rate since 2017.
The company currently has more than 128,000 units globally and is on track to achieving the 160,000 units target by 2023. Fee income is expected to increase as units in the pipeline turn operational, noting that around S$20m to S$25m of fees is expected to be earned for every 10,000 stabilised residence units.
ASCOTT ACHIEVES OVER 40% Y-O-Y UNIT GROWTH GLOBALLY BOOSTED BY RECORD SIGNINGS IN VIETNAM
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