Ascott enters strategic partnership with S Hotels & Resorts under Singha Estate to expand hospitality portfolio in the UK

International news
The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment, announce a strategic collaboration with S Hotels & Resorts Public Company Limited, the international hospitality company under Singha Estate Public Company Limited.

This collaboration is a significant milestone in the expansion of Ascott’s portfolio in the European market and reinforces a common vision between Ascott, Singha Estate and SHR to establish an even stronger global footprint in the hospitality sector, responding to the increasing demand for distinctive and versatile accommodation options, catering to both business and leisure guests.

Mr Kevin Goh, Chief Executive Officer, Ascott, said: “As an Asia-based hospitality company with 40 years of track record, our strong relationships with owners in this region has been key to Ascott’s success. We look forward to bolstering our partnership network by forging new relationships with owners and strengthening ties with existing ones as we chart Ascott’s global expansion.”

S Hotels & Resorts holds a portfolio of 25 hotels comprising 2,678 keys in the UK, which is the group’s largest market. The partnership with Ascott will play a major role in driving S Hotels & Resorts’ target full year revenue of THB11 billion (approximately US$299 million) in 2024.