HOSPITALITY CHAIN The Ascott Limited, wholly owned by CapitaLand Investment Ltd. (CLI), is expanding its presence in the country with Citadines Mactan Cebu, as part of its 28 new signings in Southeast Asia (SEA).
These signings will add over 3,400 units across the company’s various brands in key destinations, Ascott said in a media release on Monday.
“Among the 28 signings in SEA this year, one is in the Philippines, Citadines Mactan Cebu. The property is expected to add 200 units to the portfolio and is expected to open in early 2028,” Ascott said.
The company said it has a portfolio of more than 30 properties in the Philippines, spanning both operational and pipeline properties.
“This year alone, we opened three properties, lyf Cebu City, Citadines Roces Quezon City, and Citadines Bacolod City. We also expect to open two more properties later this year, Somerset Valero Makati and Somerset Gorordo Cebu,” Ascott added.
Ascott also said it “secured 28 new signings year to date in Southeast Asia, with plans to open 28 properties across the region this year.”
Wong Kar Ling, chief strategy officer and managing director of Southeast Asia at Ascott, said leveraging the firm’s experienced local teams and deep market insights, along with a robust conversion framework that enhances their speed-to-market, the company is on track to open 28 new properties in the region this year, with 12 already completed.
“Our diverse new offerings, which include beach resorts, boutique heritage hotels, full-service city hotels, and premium serviced residences, will cater to a wide range of guest preferences,” she said.
She said Southeast Asia as a region remains central to Ascott’s global expansion strategy, contributing over 30% of its total revenue.
“Across key markets within the region, the Philippines included, we continue to evaluate new opportunities to expand our brands, and to optimize returns,” Ascott said. — Aubrey Rose A. Inosante
