The Ascott Limited Thailand (Ascott), the lodging business unit wholly owned by CapitaLand Investment, has announced its 2025 business plans, reaffirming its position as a leading provider of integrated hospitality solutions. The company continues to pursue robust growth through portfolio expansion and a diversified range of accommodation offerings to meet the evolving needs of customers across market segments.
Ascott continues to expand its portfolio in Thailand with a series of notable new projects, including La Clef Bangkok by The Crest Collection, a luxury serviced residence that officially opened in June 2025 in the heart of Bangkok's Sukhumvit 38. Another significant milestone is Ascott Abov Patong Phuket, marking Ascott's debut in the resort and branded residences segment in Phuket. As of now, Ascott operates 26 properties in Thailand and one in Laos, with four additional projects currently under development. The brand continues to perform strongly, recording average occupancy rates of 68% in Bangkok, 70% in Sriracha and Pattaya, and 80% in Vientiane.
Mr. Kanit Sangmookda, Country General Manager, Thailand & Laos, Ascott, said, "Thailand continues to be one of Ascott's key strategic markets and a major growth hub in Southeast Asia. Our diverse portfolio, covering Bangkok, Pattaya, Sri Racha, and Laos, reflects our potential and our commitment to meeting the wide-ranging needs of travellers."
Ascott is driving its long-term growth through three core strategic pillars.
The first is its asset-light strategy, which focuses on expansion through management agreements and franchise agreements. By partnering with local partners, Ascott leverages its global network in sales, marketing, and standardised operations to achieve scalable and efficient growth.
The second pillar is the multi-typology strategy, where Ascott has expanded its portfolio beyond serviced residences to include hotels, co-living spaces, resorts, and branded residences. Supported by a hybrid operating model, this enables properties to efficiently serve both short-stay and long-stay guests within a unified structure. This allows the company to meet the diverse and evolving needs of a wide range of travellers - from business and leisure (B-leisure) guests to long-stay residents, digital nomads, and families.
To support this multi-typology expansion and meet rising tourism demand, Ascott's third strategic focus is forming partnerships to extend its portfolio into key leisure destinations such as Pattaya, Phuket, and Hua Hin. This approach is designed to capture growing demand in the leisure travel segment while maintaining a balanced mix between business and leisure markets, ultimately reinforcing the company's long-term growth and resilience.
Mr. Kanit added, "Our asset-light approach lies at the heart of Ascott's growth strategy, enabling us to expand stably and rapidly while establishing strong local partnerships across the country. We believe this model not only enhances our competitiveness in the market but also creates sustainable growth opportunities for both our investors and partners."
Despite 2025 being another challenging year for the leisure segment, Ascott continues to see year-on-year growth in corporate demand for both short and long stays, from key markets including Thailand, Japan, China, Taiwan, the United States, Austria, and South Korea.
While Chinese leisure travel has slowed, strong demand from other markets, including Asia, the U.S., Europe, and the Middle East, has helped offset the impact, demonstrating the strength of Ascott's diversified customer base.
Ascott remains confident in the resilience of Thailand's tourism and business travel markets. Modern travellers are increasingly prioritising the quality of their experiences over price, while rising trends in bleisure travel and digital nomadism are contributing to longer average stays.
In addition, Ascott is strongly committed to sustainable business practices, guided by its Ascott CARES framework, which covers environmental responsibility, energy efficiency, and creating shared value with the community. This commitment is demonstrated through ongoing CSR initiatives such as the Ascott Star Rewards (ASR) Charity Run and the Shoes to School programme.
Looking ahead, Ascott is focused on elevating guest experiences to exceed expectations while driving responsible and sustainable business growth, creating value for customers, partners, and communities across all of its operating locations.