Ascott grows European footprint with 7 deals

PARIS – As HICAP is set to open in Singapore, news comes that The Ascott Ltd., Singapore, has signed seven new properties across Vienna and Seville through franchise and management agreements, adding nearly 1,100 units and bringing its European portfolio to 64 properties (nearly 8,500 units) in 26 cities in 10 countries, including both operational and pipeline properties.

The announcements were made during the official opening of lyf Gambetta Paris, Ascott’s first lyf property in France. The experience-led social living brand now boasts eight properties across Europe, both operational and in development.

The news adds to Ascott’s European portfolio that includes three properties under The Unlimited Collection brand launched in recent months and four lyf openings coming next year.

Globally, Ascott’s portfolio now totals over 1,000 properties with over 175,000 units.

The five new signings in Vienna deepen Ascott’s partnership with property developer VIE Trust Real Estate Group, with whom it already partners on three properties in Vienna. They will add 750 units across various brands to Ascott’s portfolio in Vienna, including a second lyf-branded property opening by the end of 2026. Located in the city’s 15th district, the upcoming 150-unit lyf property is adjacent to the train station. These additions will bring Ascott’s Vienna portfolio to nine properties totaling nearly 1,400 units.

The two Seville signings extend Ascott’s partnership with real estate developer Forty Management SA, with whom it is also managing a project under The Crest Collection in Bucharest. The two properties – a 250-unit lyf and a 120-unit Somerset – will be part of the 12.5-hectare mixed-use mega project Lagoon City Seville anchored by an 18,000-square-meter man-made crystalline lagoon surrounded by beaches.

The Mount Royal Hotel Edinburgh by The Unlimited Collection offers 169 rooms.

Located 10 minutes from Seville’s city center in an affluent area and adjacent to an 18-hole golf course, the resort development addresses the city’s lack of coastal access despite its hot, dry climate. Besides the lyf and Somerset properties managed by Ascott, the resort development will include residential apartments and villas, a convention center and recreational amenities, restaurants and bars. Scheduled to open at the end of 2028, the two Seville properties mark Ascott’s first beachside resort project in Europe and will expand the company’s Spanish portfolio from a single property in Barcelona to three properties with more than 500 units.

Lee Ngor Houai, chief operating officer, Europe, Middle East, Africa, South Asia and China, Ascott, said: “The momentum across our European portfolio reflects a disciplined expansion strategy focused on destinations where quality accommodation meets authentic demand. From lyf’s experience-led social living spaces to The Unlimited Collection’s culturally rooted hotels and our established Citadines, Somerset and The Crest Collection brands, each has a clear identity yet remains adaptable across formats and traveller segments. Our multi-typology brand strategy enables us to deploy brands across diverse formats, from urban centers to resort destinations, expanding our reach while maintaining brand integrity.”

Following the opening of lyf Gambetta Paris, Ascott will open four lyf properties in 2026 – a second property in Vienna and three in the U.K. lyf Chelsea London, slated to open in 2Q 2026, will transform the existing 232-unit Stamford Bridge Hotel London within the grounds of Chelsea Football Club. lyf will then expand to Manchester and Glasgow in the later part of 2026.

Coming next for the Unlimited Collection is The Grand Hotel Leicester by The Unlimited Collection scheduled to reopen before end-2025 with 104 individually designed rooms following a transformation that honors the historic property’s Art Deco and theatrical legacy.

In parallel with new openings, Ascott is actively upgrading its existing properties across key European markets.

“Europe is a cornerstone of Ascott’s global growth strategy, offering a resilient, high-yield market underpinned by strong tourism fundamentals and fragmented supply, where a significant portion of quality assets remain unbranded,” said Ascott CEO Kevin Goh. “By deepening Ascott’s asset-light model in Europe through franchise and management agreements, we are scaling efficiently while building long-term brand equity across one of the world’s most attractive hospitality markets.”