Ascott Accelerates Europe Push Seven New Properties Vienna And Seville

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Ascott Ltd, the wholly owned lodging business unit of CapitaLand Investment (CLI), has recently expanded its presence in Europe through the signing of seven new properties in Vienna and Seville. These new additions, achieved through franchise and management agreements, will add nearly 1,100 units to Ascott’s portfolio.

Through a strengthened partnership with VIE Trust Real Estate Group, Ascott has successfully signed five new properties in Vienna, adding over 750 units across multiple Ascott brands to its existing portfolio in the Austrian capital. Pictured in the signing ceremony are Martin Hirl, COO of VIE Trust Real Estate Group, and Lee Ngor Houai, COO for Europe, Middle East, Africa, South Asia and China, from The Ascott Limited. Standing alongside them are Albert Hwang, CEO of VIE Trust Real Estate Group, and Kevin Goh, CEO of The Ascott Limited.

With these latest signings, Ascott’s portfolio in Europe will now expand to 64 properties, with a total of 8,500 units across 26 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.

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The announcement coincides with the official opening of lyf Gambetta Paris, Ascott’s first lyf-branded property in France. This marks the eighth lyf property for the company in Europe, with both operational and upcoming developments.

Located in the lively Gambetta neighbourhood of Paris’ 20th arrondissement, lyf Gambetta Paris is the first lyf-branded property to open in France and the third to launch in Europe. Meanwhile, Ascott’s European portfolio has shown strong momentum, with three new properties under The Unlimited Collection brand recently launched and four new lyf properties slated for next year.

According to Kevin Goh, CEO of Ascott, Europe is a key market in the company’s global growth strategy, offering a resilient and high-yield market with strong tourism fundamentals and a fragmented supply of quality assets that remain unbranded. The expansion into Vienna, entry into Seville, and growing presence of lyf and The Unlimited Collection properties demonstrate the increasing demand from property owners and investors for established operators with a strong global distribution and brand architecture.

Through the implementation of an asset-light model in Europe, leveraging franchise and management agreements, Ascott aims to efficiently scale while strengthening its long-term brand equity in one of the world’s most attractive hospitality markets, Goh stated.