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The Ascott Limited, the lodging business unit of Singapore's CapitaLand Investment (CLI), is stepping up its global talent development efforts to support the opening of more than 300 new properties by 2028 — including key locations in Malaysia.
This expansion is expected to create over 12,000 new jobs worldwide, including more than 1,500 leadership roles across Ascott's portfolio.
To drive this growth, the group has launched Ascott Accelerate, a structured talent development programme designed to fast-track high-potential associates into hospitality leadership roles. This initiative is part of the Ascott Global Academy for Excellence (AGAX), a comprehensive training ecosystem launched in 2024 to build a future-ready workforce and support Ascott's goal of achieving over S$500 million in fee-related earnings by 2028. AGAX is overseen by the Ascott Learning Council (ALC).
In 2024, Ascott reported a third consecutive year of record fee-related earnings at S$343 million, up 12 per cent year-on-year on a recurring basis. This was underpinned by a 6 per cent increase in revenue per available unit (RevPAU) and the opening of a record 11,700 units across 54 properties.
With a global presence of over 990 properties in more than 230 cities — two-thirds of which are already operational — Ascott continues to expand through a multi-typology brand strategy. This includes serviced residences, hotels, resorts, social living spaces, and branded residences.
In a statement, Ascott said that Malaysia plays a strategic role in this growth, with over 40 properties, operational and in development, spanning diverse lodging formats. Penang, which hosts 21 of these properties, was selected as the launch site for the Ascott Accelerate programme and digital learning platform, reaffirming Malaysia's importance in the company's regional strategy.
"Our vision is to be the preferred hospitality company, enriching global living with heartfelt experiences. To deliver on this, we have expanded our portfolio beyond serviced residences to include hotels, resorts, social living spaces and branded residences, said Lee Ngor Houai, co-chair of the Ascott Learning Council.
He added, "Our multi-typology brand framework not only caters to the diverse needs of today's travellers but also empowers our associates to develop broad-based expertise and thrive across different accommodation formats. As our business continues to grow and diversify, we remain deeply committed to developing our people, ensuring they have the skills and support to grow with us."
He said that looking ahead, talent development will remain a core strategic priority as Ascott continues its global expansion journey.
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