Ascott targets Thailand as travel market transforms

The Ascott Ltd, a Singapore-based serviced residence and hotel operator, is focusing on Thailand as shifting travel patterns and evolving guest expectations reshape the hospitality landscape.

- KANANA KATHARANGSIPORN

Wong Kar Ling, chief strategy officer and managing director for Southeast Asia, said occupancy rates at Ascott’s Thai properties have grown by 6% since 2019, reflecting a steady recovery and increasing demand across its portfolio.

"With 31 properties spanning four cities and seven brands, we have not only regained momentum, but also surpassed pre-pandemic performance, with revenue per available unit in 2024 up by more than 23% from pre-pandemic levels," she said.

These results underscore the strength of its services, which offer flexible-stay offerings and the ability to meet evolving traveller needs in a competitive market, said Ms Wong.