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Ascott concentrates on its hybrid hotel-in-residence business.

Ascott concentrates on its hybrid hotel-in-residence business.

The flagship namesake brand, Ascott, has undergone a renovation, according to The Ascott Limited (Ascott), a lodging business unit that is entirely controlled by CapitaLand Investment (CLI). This relaunch of the brand highlights its flex-hybrid hotel idea, which has emerged as the preferred design in the lodging sector and has shown durable during and after the pandemic. With the added flexibility of this hotel-in-residence model, Ascott is able to accommodate guests with a variety of needs, including those who are travelling alone or in groups and who require varying lengths of stays from short to extended periods.

The hotel-in-residence model allows flexibility to pivot as demand evolves across various market segments and geographies by adopting new room models, facilities, amenities, and features. This presents a value proposition that is exclusive to Ascott. What would otherwise be a standard stay in a serviced house is further elevated by adding a wider range of hospitality services to the experience. Similar to this, Ascott’s portfolio of hotels will be able to accommodate extended stays if necessary.

“Operating on a “flex-hybrid” model helps Ascott to stay agile and adaptable in the face of volatile business cycles,” stated Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging. Ascott can quickly adapt its operations to the needs of the market and maximise occupancy to support revenue growth by being sensitive to changes in demand. The strategy also reduces the dangers brought on by relying too much on a particular market segment. The business can concentrate on other areas that are functioning better while one sector undergoes a slump. Because of their versatility, they have a more steady income and are less vulnerable to market fluctuations.

“There is definitely demand from our visitors looking for these types of hotel-in-residence facilities within a revamped hospitality market post-COVID. The integration of enlarged serviced residential space and intelligent hospitality services, amenities, and facilities will further enrich the stay experience, whether it be for business travellers seeking extended stays or relocations, families on vacation, or lone travellers on shorter pleasure visits. Even in the midst of the pandemic, additional property owners and developers are embracing this trend favourably and adding to the growing momentum of management contract signings. The hotel-in-residence concept boosts our hospitality portfolio’s effectiveness by adjusting to market movements, intensifying asset utilisation, diversifying income sources, increasing guest satisfaction, and minimising operating expenses. According to Mr. Goh, “Ascott’s agility enables it to proactively allocate its resources, resulting in improved returns for our investors and owners.

Source-Travel daily

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