Ascott, a lodging business unit wholly owned by CapitaLand Investment (CLI), is steadily expanding its prestigious brand, "The Crest Collection." With a 40% increase in total unit numbers year-on-year since 2022, the brand now encompasses over 1,500 units spread across 12 properties, both operational and in development. The Crest Collection is recognized for its charming bespoke hotels and serviced residences, offering an immersion into the rich tapestry of history and culture.
Under the banner of "A Story Behind Every Door," The Crest Collection invites travelers to embark on a journey through time. Each property narrates the adventures of a worldly persona as she travels through different locations and eras, offering moments of luxury at each destination. Every door you open reveals a historic and intimate experience, introducing you to personalities, carefully selected to create a one-of-a-kind and storied experience.
The rising demand for exclusive experiential stays that allow travelers to deeply connect with the history and culture of their chosen destination is propelling The Crest Collection's expansion. By seamlessly weaving heritage narratives into meticulously crafted hospitality experiences, The Crest Collection offers guests unique, storied, and luxurious stays that draw inspiration from the distinctive heritage of each property and its location. It's important to note that the global heritage tourism market is expected to grow at a compound annual growth rate (CAGR) of 3.8% between 2022 and 2030.
Also, Ascott introduced The Crest Collection brand to Asia with the launch of three properties in Singapore, Indonesia, and Malaysia between August and October 2023. Notably, The Robertson House by The Crest Collection, located along the iconic Singapore River, recently opened as the newest addition to the Robertson Quay in Singapore. In the same time frame, The Grand Mansion Menteng by The Crest Collection in Jakarta and The George Penang by The Crest Collection in George Town's UNESCO Heritage Zone were signed and rebranded to join The Crest Collection. This swift expansion showcases Ascott's proficiency in conversions and its extensive support network, allowing for seamless transitions to the Crest Collection brand in just over three weeks.
The Crest Collection's European portfolio currently includes several distinctive properties in France. Ascott is expanding its reach by incorporating The Cavendish London in the United Kingdom and a property in Bucharest, Romania. The 230-unit Cavendish London, situated near St. James's Square and Piccadilly Circus, is slated for a renovation, with plans to reopen in the 4th quarter of 2025 as the first property in the United Kingdom under The Crest Collection. Ascott's expansion into Bucharest involves a 171-unit property, located in the prime area of the Palace of Parliament, and is scheduled to open in the 3rd quarter of 2025.
Moreover, Ascott is committed to the long-term management of owners' assets, offering operational expertise to enhance the quality, value, and yield of their properties.
“Ascott has seen a growing demand for collection brands from owners as they provide flexibility of a distinctive property positioning while being backed by the power of a global brand through its global sales and distribution platforms, and strong loyalty base. The ease of conversion with a collection brand means increased speed to market, and that is key especially in today’s economic climate amidst tighter lending conditions and rising construction costs.” - Ms Serena Lim, Ascott’s Chief Growth Officer
“At Ascott, we are committed to manage our owners’ assets not only for the short and medium term. Bearing in mind long-term strategic growth, we work closely with our owners to uplift the value of their real estate, ensure longevity and future proof their business,” -Ms Serena Lim, Ascott’s Chief Growth Officer
Collaboration with CapitaLand Ascott Trust (CLAS) has led to the renovation of two assets, including The Robertson House by The Crest Collection in Singapore and La Clef Tour Eiffel Paris by The Crest Collection. These renovations aim to enhance property value and cater to a higher tier of leisure and corporate travelers. Ascott's dedication to elevating brand equity and ensuring long-term management underscores its commitment to delivering lasting value to property owners and guests.
