Serviced house specialist The Ascott is increasing its Crest Assortment of ‘experiential’ properties world wide.
The Ascott, which additionally operates manufacturers together with Citadines, Lyf and Oakwood, mentioned it had secured eight resorts and serviced residences for the Crest Assortment, which is able to provide a complete of 1,058 items when they’re all open.
The model already has 4 working properties in France, three in Paris and one in Excursions, with a fifth coming in 2026 following a renovation of the present Citadines Saint-Germain-des-Pres Paris. There may even be Crest Assortment areas in Singapore, China and Vietnam, with extra properties within the pipeline in London and different Asian cities.
Tan Bee Leng, Managing Director of Model and Advertising and marketing at The Ascott, mentioned: “No two properties or keep experiences are the identical. The Crest Assortment model meets the rising demand for distinctive experiential stays and permits our company to immerse themselves within the historical past and tradition of the vacation spot.”
Leng added that the gathering’s 4 present properties in France had a median occupancy fee of greater than 80 %.
Underneath enlargement plans, the Riverside Lodge Robertson Quay in Singapore shall be renovated and renamed The Robertson Home by The Crest Assortment later this yr. The Crest Assortment’s Yuexiu Lodge Guangzhou in China may even open on the finish of 2023.
The third Asian property shall be Vietnam’s The Crest Assortment in Tay Ho, Hanoi, opening in 2024.
Ascott’s proprietor, CapitaLand Ascott Belief, additionally revealed that its gross revenue had risen 80% within the second half of 2022 to S$164.6 million (€115 million) in comparison with the identical interval in 2021, as that revenues shot up 69%.
The corporate mentioned its revpau (income per disposable unit) had grown 81 per cent year-over-year, with its properties within the UK, US, Australia and Singapore all working at pre-Covid ranges.
Bob Tan, chairman of CapitaLand Ascott Belief Administration Restricted, mentioned the corporate had seen an “enhance in demand with the restoration of the resort sector after Covid-19”.