Ascott develops hybrid to pivot to demand fluctuations

SINGAPORE – In the world of alternative accommodations, The Ascott Limited in Singapore has recognized a way to create a flex-hybrid concept for its serviced residences that has proven resilient through and post-pandemic and is an increasingly preferred model in the lodging industry for its flagship brand with more than 40 properties (23 in China) and 30 in the pipeline, Ascott.

Flexing through product and room mix, adoption of new room models, facilities, amenities, and features, the hotel-in-residence model enables agility to pivot as demand shifts across different market segments and geographies. This also presents a value proposition that is unique to Ascott.

The wholly owned unit of CapitaLand Investment last week announced the brand refresh, which showcases its flex-hybrid, hotel-in-residence model, with its added level of adaptability. It enables Ascott to cater for varying lengths of stays from short to extended periods; for different guest profiles from those travelling solo to that in groups – elevated with the convenience of services, facilities and amenities of a hotel. Room options range from studio apartments, penthouse suites to connecting and dual-key units.

“By being responsive to shifts in demand, Ascott can quickly pivot its operations to suit the needs of the market and optimize occupancy to drive revenue growth,” said Kevin Goh, chief executive officer for Ascott and CLI Lodging. “The model also mitigates the risks associated with over-reliance on a single market segment. When one segment experiences a downturn, the business can focus on other segments that are performing better. This adaptability ensures a more stable income stream and reduces vulnerability to economic volatility.”