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THE ASCOTT Limited (Ascott), the wholly-owned hospitality business unit of CapitaLand Investment (CLI), is ramping up talent development to support the opening of more than 300 new properties by 2028.
This global expansion is expected to create more than 12,000 new jobs, including more than 1,500 property management positions. To support this growth, the company is launching Ascott Accelerate, a structured talent management program that fast-tracks high-potential employees into hospitality leadership roles. This will be complemented by a digital learning platform that provides flexible and accessible development opportunities for associates at all levels.
Both new initiatives are part of the Ascott Global Academy for Excellence (AGAX), a comprehensive training platform launched in 2024 to build a future-ready workforce and support Ascott’s goal of achieving over S$500 million in fee-based revenue by 2028.
In 2024, Ascott continued its upward trajectory and achieved its third consecutive year of record fee-based income of S$343 million, representing a 12% increase on a recurring basis[1]. This performance was driven by a 6% increase in revenue per available unit (RevPAU) and the opening of a record 11,700 units across 54 properties.
Today, Ascott’s global footprint comprises more than 990 properties in over 230 cities, two-thirds of which are already operational. The company is driving its growth through a multi-typology brand strategy to scale and diversify its presence in key markets.
Malaysia exemplifies this approach with a portfolio of more than 40 properties – both operational and in the pipeline – spanning serviced residences, hotels, resorts, social living spaces and branded residences.
Fittingly, Ascott chose Penang – home to 21 of these properties – as the launch site for Ascott Accelerate and its new digital learning platform during the Ascott Learning Festival, reinforcing Malaysia’s role in supporting the company’s broader growth strategy.
According to Lee Ngor Houai, Ascott’s vision is to be the hospitality company of choice, enriching global life with heartfelt experiences. To achieve this, we have expanded our portfolio beyond serviced residences to include hotels, resorts, social living spaces and branded residences, offering guests more choices under our brand promise of ‘Stay Your Way’.
“Our multi-typology brand framework not only caters to the diverse needs of today’s travelers, but also enables our associates to develop broad-based expertise and thrive in different accommodation formats. As our business continues to grow and diversify, we remain deeply committed to developing our people and ensuring they have the skills and support to grow with us,” he said.
Looking ahead, he continued, talent development will remain central to our strategy as we expand globally, with more than 300 new properties expected to come online by 2028.
Likewise, Ms. Wong Kar Ling said to future-proof our talent pipeline, we are pleased to launch Ascott Accelerate, a comprehensive initiative designed to nurture high potential talent at every stage of their hospitality careers. This program supports associates from entry level roles to key property leadership positions such as Residence Manager and General Manager.
Through mentorship, on-the-job training, project-based learning and e-learning, Ascott Accelerate will shape the next generation of hospitality leaders and equip them with the skills to drive our continued success.
As the training needs of our organization evolve, we are also exploring partnerships with leading hospitality institutions to enhance the professional credentials of our team. We welcome individuals with a passion for hospitality to join us at Ascott, where opportunities to grow and thrive are part of our dynamic journey.”
Ms Wong added hospitality is about connecting people across places, cultures and opportunities. At Ascott, we believe that these connections should begin within our own teams.
She explained that just as we strive to offer our guests a global life, we are equally committed to giving our associates the opportunity to experience the global nature of our business – whether through international assignments or globally connected platforms such as our Learning Festivals.
“These initiatives reflect not only the scale of our business, but also why many are drawn to the hospitality industry: a passion for people, culture and discovery,” Ms. Wong concluded. [sources/photo special]
