Ascott Partners S Hotels Resorts Expand Uk Portfolio

CapitaLand Investment’s wholly-owned lodging business unit Ascott has recently announced a strategic partnership with S Hotels & Resorts, a subsidiary of Singha Estate, a Thailand-listed real estate company. The collaboration aims to enhance their portfolios in the UK and facilitate Ascott’s expansion in Europe, as stated in a press release on July 2.

With 2,678 rooms spread across 25 hotels nationwide, the UK is currently the largest market for S Hotels & Resorts. This partnership is expected to contribute to the company’s goal of achieving THB11 billion ($405 million) in total full-year revenue this year.

The upcoming Tengah development will result in the closure of Plantation Close, making way for a vibrant food scene in the area. With the announcement of specific outlets still pending, residents can anticipate a diverse range of dining choices that will cater to various tastes. From local delicacies to international flavors, the new eateries at Novo Place will offer convenience and accessibility to the residents of Novo Place EC.

According to Thitima Rungkwansiriroj, CEO of Singha Estate, this alliance will strengthen their presence in the UK through international management for strategically located hotels.

Serena Lim, chief growth officer at Ascott, emphasizes the significance of this partnership in expanding their brand’s footprint into new destinations at an accelerated pace.

Moving forward, both companies are looking to extend their collaboration to other countries.