The 70 properties, which have close to 13,500 units, will span across all of Ascott’s brands, including lyf, Citadines and Oakwood.

The move comes at a time when Ascott seeks to address emerging travel trends post-Covid-19.

“Riding on the recovery of international travel, Ascott opened more than 45 properties in 2022. This year, we will see our highest-ever property openings, launching close to 13,500 units across 70 properties,” says Tan Bee Leng, Ascott’s managing director for brand & marketing.

“This strong pipeline of property openings spans all brands and will support the continued rebound in travel and tourism spending, bolstered by the relaxation of travel restrictions and the normalisation of flight frequency to pre-pandemic levels. Shifts in traveller expectations and preferences are happening alongside this upward growth trajectory,” she adds.

As at 12.38pm, shares in CLI are trading 3 cents higher or 0.78% up at $3.87.

Ascott to open 70 properties globally in 2023

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

The new kings and queens of content

Singapore’s headline and core inflation figures increase to 4.7% and 3.3% in October

UOB Kay Hian lowers MPACT’s TP, DPU on lower contributions from China and further depreciation on forex

Matter of time before Straits Times Index stages rally

About 62.5% of shares in VTAC have been redeemed prior to the despac

The cybersecurity parasite hiding in plain sight

Why hyperscaler investments don't equate to cloud success for SEA

How AWS empowers Asean organisations to innovate with generative AI

Temasek's GenZero, an investor in South Pole, launches whitepaper addressing 'misconceptions' around carbon markets

Proxy advisor says vote FOR for all three resolutions at Manulife US REIT’s EGM 

Powell brushes off rate-cut bets as Fed moves carefully

Life on the road with  TUDOR pro cyclists Arvid de Kleijn, Sebastian Kolze Changizi and Maikel Zijlaard

Tennis pro Rafael Nadal’s fragrance line for Henry Jacques is now complete with the final addition of a solid perfume

A visit to the Jaeger-LeCoultre Manufacture offers insight into the artistry that goes into crafting a luxury timepiece

Watch out for three orphan companies

Why are we all freaking out about AI

The Bangkok jam is starting to clear

Hong Kong billionaire Cheng family's succession under spotlight

SATS gives notice of three years of consecutive losses

ByteDance fires hundreds, slashes games arm in major retreat

Manulife US REIT units fall over 40% on debt restructuring plans, DBS downgrades to 'hold'

'Is it time to revisit iFast?' UBS nearly doubles its target price to $10 on Hong Kong growth

Ascott to open 70 properties globally in 2023

Related News

Highlights

MSCI boss warns of climate risks

Related News

CapitaLand’s property management arm turns into platform play

CapitaLand Investment reports 9MFY2023 revenue of $2.09 bil, 3% lower y-o-y

CLI establishes wellness and healthcare-related real estate fund with Thailand’s PSH