Ascott Accelerates Europe Push Seven New Properties Vienna And Seville
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The Ascott Ltd, a leading lodging business unit of CapitaLand Investment (CLI), has recently made big strides in Europe with the signing of seven new properties in Vienna and Seville. These new additions, secured through franchise and management agreements, will add close to 1,100 units to Ascott’s growing portfolio.
The company has strengthened its partnership with VIE Trust Real Estate Group by signing five new properties in Vienna, bringing in over 750 units under various Ascott brands. This milestone marks a significant addition to Ascott’s already expanding portfolio in the Austrian capital. In attendance at the signing were Martin Hirl, COO of VIE Trust Real Estate Group, and Lee Ngor Houai, COO for Europe, Middle East, Africa, South Asia and China, as well as Albert Hwang, CEO of VIE Trust Real Estate Group, and Kevin Goh, CEO of The Ascott Limited.
These new signings will bring Ascott’s European portfolio to a total of 64 properties with approximately 8,500 units across 26 different cities in 10 countries. This includes both operational and pipeline developments. Globally, the company now manages over 1,000 properties with more than 175,000 units.
The announcement coincides with the official opening of lyf Gambetta Paris, the first lyf-branded property in France, which is part of Ascott’s ongoing expansion in Europe. With the addition of this property, Ascott now has eight lyf properties in Europe, both currently operating and under development.
Located in the vibrant Gambetta neighbourhood of Paris’ 20th arrondissement, lyf Gambetta Paris is the first lyf property to launch in France and the third to open in Europe. The company is also experiencing strong operational momentum across its European portfolio, with three new properties under The Unlimited Collection brand launching in recent months and another four lyf openings scheduled for next year.
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According to Kevin Goh, CEO of Ascott, “Europe is an essential component of Ascott’s global growth strategy – a resilient, high-yield market supported by robust tourism fundamentals and a fragmented supply chain, where many quality assets remain unbranded.” He added that the company’s expansion in Vienna, its entry into Seville, and the growing presence of lyf and The Unlimited Collection properties highlight the increasing demand from property owners and investors for established operators with strong global distribution and brand architecture.
By further strengthening its asset-light model in Europe through franchise and management agreements, Ascott aims to efficiently scale its operations while also enhancing long-term brand equity in one of the world’s most attractive hospitality markets.