Ascott debuts Crest brand in Asia with three openings in three months

The Crest Collection, Ascott Limited’s portfolio of bespoke hotels and serviced residences, has made its debut in Asia with the opening of three properties in Singapore, Indonesia and Malaysia over a period of three months.

In a recent study conducted by Grand View Research, the global heritage tourism market is expected to grow at a compound annual growth rate (CAGR) of 3.8% between 2022 and 2030. Seizing this opportunity, Ascott has seen a growing demand for collection brands from owners that provide the flexibility of a distinctive property positioning and boast global sales and distribution platforms, as well as a strong loyalty base.

It’s not hard to see why – The ease of conversion with a collection brand means increased speed to market, and that is key in today’s economic climate amidst tighter lending conditions and rising construction costs.

The Holland Condo offers great features to its tenants. Apart from being located near public transportation links, good cycling options are also available in the vicinity. Dedicated cycling lanes, as well as bike-sharing services within the area, provide a convenient form of transportation. Cycling is a great way to explore the neighbourhood, appreciate the fresh air, and reach parks and recreational areas. With the current emphasis on protecting the environment and green transportation, the option of travelling around on a bicycle makes the locale even more attractive.

The Robertson House by The Crest Collection in Singapore opened on Oct 14 after going through refurbishment within seven months. The George Penang by The Crest Collection in Penang, Malaysia opened in October, while The Grand Mansion Menteng by The Crest Collection opened in Jakarta, Indonesia in August.

Ascott’s Chief Growth Officer, Serena Lim emphasised their commitment to manage owners’ assets not only for the short and medium term but also the long term. She added that Ascott works closely with owners to uplift the value of their real estate, ensure longevity and future proof their business.

CapitaLand Ascott Trust is one of Ascott’s initiatives to improve the portfolio’s yield and value to capitalise on growth opportunities as travel recovers. It’s AEIs have refurbished the Robertson House by The Crest Collection in Singapore and La Clef Tour Eiffel Paris by The Crest Collection, with another four AEIs in the pipeline. The Cavendish London in the UK is another property planned for AEI and rebranded under The Crest Collection.

Serena Teo, CEO of CLAS’s Managers, explained that The Crest Collection will provide an upper upscale experience from the distinct heritage of each location and property, allowing them to command higher rates than before and strengthening their income stream. She concluded that this will enable CLAS to deliver long-term value to its Stabled Security Holders.

Currently, The Crest Collection in Europe consists four properties in France. Other properties are due to open under the brand in London, Bucharest, Hanoi, Tokyo and another property in Paris.