SINGAPORE (EDGEPROP) - The Ascott says it has secured 15,100 units across 72 properties globally last year, with serviced residences comprising the bulk of its new signings at over 60%.

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In 2021, it launched over 8,200 units in 40 properties across 25 cities and 10 countries, more than double the units opened in 2020. New properties opened last year included Ascott’s first Adoor-branded rental housing property, Adoor Apartment Heda Hangzhou (Xiasha), and its first lyf-branded co-living property, lyf Mid-Town Hangzhou, in China.

“More than 80% of the new units secured in 2021 were under management and franchise contracts, in line with Ascott’s asset-light growth strategy,” says Kevin Goh, CapitaLand Investment’s CEO for lodging. Ascott is a wholly owned lodging business unit of CapitaLand Investment.

“We also opened a record number of units in 2021, readying ourselves for the recovery of travel in 2022. The newly signed and opened properties will be a welcome boost to our recurring fee income, as we build on this momentum to meet our target of 160,000 units globally by 2023,” he adds.