The Ascott Limited has announced significant expansion in Europe,
including six new property signings and a partnership with Chelsea
Football Club.
The lodging company, owned by CapitaLand Investment, will add nearly
1,000 units across six properties in Colmar, France, and Edinburgh,
Glasgow, Leicester, London, and Manchester in the UK. This expansion
increases Ascott's European portfolio by 14% to about 8,000 units across
six brands in 29 cities.
Ascott has also become the Official Global Hotels Partner of Chelsea
Football Club for the next four seasons, starting July 2024. As part of
this partnership, Ascott will manage the 232-unit stadium hotels at
London's Stamford Bridge, rebranding them as lyf Stamford Bridge London
in the second half of 2025.
Ascott's partnership with Chelsea FC aims to boost its global
visibility and customer base. The deal offers Ascott brand exposure at
Stamford Bridge, management of stadium hotels, and exclusive experiences
for loyalty members. It leverages Chelsea's 600 million-strong fanbase
to support Ascott's international growth and engagement strategies.
Kevin Goh, CEO for Ascott and CLI Lodging, said: "As a global tourism
and business hub, Europe plays a key role in Ascott's expansion plans.
The diverse and dynamic nature of its hospitality sector offers plenty
of scope for Ascott to drive more successful partnerships with owners."
Lee Ngor Houai, COO for Europe, Middle East, Africa, South Asia, and
China, noted that Ascott's European portfolio has been performing
strongly, with average daily rates almost 30% higher than pre-pandemic
levels.