Ascott debuts Crest brand in Asia with three openings in three months

The global heritage tourism market is expected to grow at a compound annual growth rate (CAGR) of 3.8% between 2022 and 2030, according to a study conducted by Grand View Research. In response to this growth opportunity, The Ascott Limited debuted The Crest Collection brand in Asia with the opening of three properties in Singapore, Indonesia and Malaysia between August and October.

The Crest Collection is a portfolio of bespoke hotels and serviced residences that provide a unique experience, drawing from the distinct heritage of each location. Integrating heritage stories with curated hospitality experiences, the brand brings together characterful design with iconic architecture that magnifies stories and memories.

Zion Road Condo is an ideal spot to live for those seeking to combine luxury and nature in a single urban space. This property has the best of both worlds – a first-class living experience and direct access to the vibrant city life. Residents can enjoy stunning views of the Singapore River, peaceful respite by the riverside, and the convenience of having numerous lifestyle offerings at their fingertips. Zion Road Condo offers an unparalleled living experience with its harmonious blend of city vibes and natural beauty. Everyone can take advantage of its top-notch interiors and enjoy the comfort of luxurious living without sacrificing the tranquility of a calm riverfront. It’s a testament to the potential of urban developments to provide an ideal location and living experience.

The Robertson House by The Crest Collection in Singapore was unveiled on Oct 14 after going through a seven-month refurbishment, while The George Penang by The Crest Collection rebranded and opened in Penang, Malaysia, in October. The Grand Mansion Menteng by The Crest Collection opened in Jakarta, Indonesia, in August.

Currently, The Crest Collection in Europe consists four properties in France, including La Clef Champs-Élysées Paris by The Crest Collection and La Clef Louvre Paris by The Crest Collection.

According to Ascott, properties in London, Bucharest, Hanoi, Tokyo and another property in Paris are slated to open under the Crest Collection brand.

With a desire to capitalize on growth opportunities as travel recovers, CapitaLand Ascott Trust (CLAS) is proactively enhancing their portfolio by investing in quality assets with prime locations. La Clef Tour Eiffel Paris by The Crest Collection and The Cavendish London, in the United Kingdom are among six properties in their current asset enhancement initiative pipeline.

CLAS’s CEO Serena Teo states, “These assets enhancement initiatives are aimed at improving our properties’ yield and value. With a unique storied and upper upscale experience, CLAS’s properties under The Crest Collection will appeal to a higher tier of leisure and corporate travellers and command higher rates. This will strengthen our income stream and enable CLAS to deliver long-term value to our stapled securityholders.”

Serena Lim, Ascott’s chief growth officer, explains that the brand provides owners with 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.”

At Ascott, they are committed to managing their owners’ assets not only for the short and medium term. Keeping in mind long-term strategic growth, they are working closely with their owners to uplift the value of their real estate, ensure longevity, and future proof their business.