At Arabian Travel Market, The Ascott Limited (Acott) unveiled an ambitious regional roadmap confirming the opening of 16 new properties across the Middle East, Africa, and Türkiye (MEAT) by 2028. Backed by its parent company CapitaLand, the lodging business unit is steadily steering towards an overarching regional target of 15,000 units by 2030, supported by robust demand for flexible, hybrid hospitality models.
Speaking on the sidelines of ATM, Vincent Miccolis, Managing Director for Middle East, Africa, and Türkiye at The Ascott Limited, underscores that this pipeline represents disciplined, value-driven expansion rather than growth for the sake of numbers.
With regional portfolio occupancy hovering above 70 per cent, the group’s performance reflects both operational resilience and the enduring strength of its core DNA: serviced residences and adaptable living spaces.
Hybrid advantage
Historically renowned for pioneering serviced residences, Ascott has proactively evolved its portfolio to cater to shifting guest behaviours. Business travellers, corporate extended stays, and staycationing families increasingly look for versatile accommodations where the lines between working, living, and leisure naturally blur.
Miccolis explains that Ascott’s competitive edge lies in this innate agility. Unlike traditional hotel assets that remain locked into transient stays, Ascott properties can transition seamlessly between short-term hospitality and extended leases spanning several months.
This flexibility delivers consistent cash flow for property owners while sheltering operations from broader market turbulence. Backed by a direct booking channel that generates roughly 70 per cent of extended-stay business, the group insulates its owners from heavy third-party acquisition costs while fostering high guest loyalty.
Efficiency also starts on the drawing board. Leveraging CapitaLand’s real estate expertise, Ascott collaborates closely with developers to optimise physical layouts, ensuring every square metre translates into long-term commercial returns without excessive, unproductive footprint.
Saudi Arabia, UAE
Saudi Arabia represents a major growth engine within Ascott’s pipeline. The group is preparing to launch Ascott Villas Riyadh, a boutique community of 92 luxury villas tailored for extended corporate stays and family living in the Saudi capital. The brand is also actively pursuing multiphase projects across Madinah, Makkah, and Jeddah, alongside upcoming developments such as Citadines City Centre Al Khobar and Al Theeb Tower by The Crest Collection in Riyadh.
In the UAE, where mature hospitality markets demand refined differentiation, Ascott is expanding its luxury resort footprint. The pipeline features the upcoming Al Mahra Resort by The Crest Collection on Ras Al Khaimah’s Marjan Island, offering over 500 premium keys.
Ascott is also preparing to introduce its vibrant lifestyle brand, lyf (Live Your Freedom), to the region.
Tailored for community-centric, millennial-minded guests, lyf prioritises activated social areas, collaborative workspaces, and experiential activations over traditional room-centric setups. Following successful rollouts across Singapore, Paris, and Melbourne, the lifestyle concept is set to make its regional debut in Saudi Arabia.
North and East Africa
Beyond the GCC, Ascott’s regional push includes a concerted drive into Africa. Morocco and Kenya have emerged as strategic frontiers, benefiting from infrastructure expansion and sustained economic growth.
In Morocco, where major global sporting fixtures such as the upcoming FIFA World Cup are accelerating tourism and business investments, Ascott has established an active foothold with plans for up to ten additional properties, including Citadines Bab Tangier. In East Africa, Kenya serves as another vital commercial hub, where the company already operates in Nairobi and has three additional projects in development.
Ascott’s near-term rollout also includes its entry into Kuwait through Citadines Sharq Kuwait, bringing its serviced apartment model to a prime waterfront urban address.
As travel dynamics continue to reshape regional hospitality, Ascott’s strategic posture remains clear: matching the right operating model to the right market, collaborating with visionary owners, and offering flexible, extended-stay solutions built for sustainable value.