The Ascott Limited (Ascott), a leading serviced residence company under CapitaLand Investment Limited, is stepping up its game in Europe. The company announced a two-pronged strategy for growth:expanding its portfolio of properties and forging a strategic partnership with a major football club.
Ascott is adding six new properties across Europe, bringing its total portfolio in the region to nearly 8, 000 units. This represents a 14% increase and expands Ascott's presence to 29 cities from the previous 24. Notably, the expansion includes five new cities:Colmar in France, and Edinburgh, Glasgow, Leicester, and Manchester in the United Kingdom. These additions cater to the diverse needs of travelers seeking flexibility and a sense of community during their stay.
The expansion also marks the debut of two Ascott brands in Europe. The Unlimited Collection, known for its luxurious and culturally immersive experiences, will be making its European foray. Additionally, the popular lyf brand, targeting millennial travelers with a focus on social living, will be welcoming six new properties. This strategic move strengthens Ascott's position to cater to a wider range of guests in the European market.
Beyond expanding its physical footprint, Ascott is also leveraging a high-profile partnership to boost its brand awareness in Europe. The company has signed a multi-year deal with Chelsea Football Club, becoming the club's Official Global Hotels Partner. This strategic alliance taps into Chelsea's immense global fanbase, estimated to be among the top ten most popular football clubs worldwide.
The partnership presents a win-win situation for both parties. Ascott gains access to a vast network of passionate fans, introducing them to its diverse portfolio of hospitality brands around the globe. Chelsea FC, on the other hand, benefits from Ascott's expertise in hospitality management. Ascott will take over the management of the hotels located at Stamford Bridge, the club's iconic stadium, and rebrand them under the lyf banner.
This strategic partnership extends beyond just branding. Ascott and Chelsea FC plan to collaborate on exclusive experiences for members of Ascott's loyalty program, Ascott Star Rewards (ASR). These "money-can't-buy" experiences could include access to matches at Stamford Bridge, VIP visits to the Chelsea training ground, and other unique opportunities.
Ascott's European expansion and partnership with Chelsea FC reflect the company's ambitious plans for the region. By offering a wider range of properties and leveraging the power of a renowned football club, Ascott is well-positioned to attract a new generation of travelers and solidify its presence as a leading provider of serviced residences in Europe.