How Singapore’s Ascott grew from its first serviced residence into a global hospitality business

Founded in 1984, Ascott began as Singapore's first international-class serviced residence, with the goal of creating a flexible and residential living experience for travelers. In the early days, hotels served a simple purpose: providing a place to rest after work or leisure activities. However, as business travel extended beyond typical short trips and remote work became more common, travelers began seeking accommodations with workspaces, kitchens, and other amenities.

Ascott adapted to these changing needs, expanding beyond traditional hotels to include serviced residences, apartments, and other long-stay properties. With over 1,000 properties in more than 40 countries, Ascott now offers a diverse portfolio of brands, including Oakwood, Somerset, Lyf, The Unlimited Collection, and Yello. Ascott's success lies in its asset-light approach, managing and franchising properties rather than owning them directly.

The company's growth reflects a shift in traveler expectations, moving from simply needing a place to stay to wanting a place to live. This change has been driven by factors such as digital nomadism, remote work, and the desire for a more immersive travel experience. Ascott's properties are often located in residential neighborhoods, allowing guests to experience the local culture and community.

This proximity, combined with the extended stay, enables travelers to fully immerse themselves in their destination, fostering a sense of connection and belonging. Recognizing this shift, Ascott has focused on creating unique experiences beyond basic accommodations. These experiences range from neighborhood-led programming at Lyf properties to member events through the Ascott Star Rewards loyalty program, such as attending sports events or enjoying culinary experiences.

By offering these enriching experiences, Ascott aims to create lasting memories for its guests, making the hospitality brand's role more about curating memorable experiences than simply providing lodging.