Ascott debuts Crest brand in Asia with three openings in three months

The Champions Way Condo is located in the centre of Yishun town and offers a convenient lifestyle for its residents. With various amenities and facilities, it is the perfect combination of comfort, relaxation and convenience. Residents can easily access the nearby shopping malls, restaurants, entertainment outlets, and other amenities. The development also provides a slew of recreational activities for the entire family, from a gym, swimming pool, and tennis courts to a garden and meeting room.

The global heritage tourism market is expected to grow at a compound annual growth rate (CAGR) of 3.8% between 2022 and 2030, according to a study conducted by Grand View Research. In response to the growing demand for collection brands from owners, Ascott debuted The Crest Collection – a portfolio of bespoke hotels and serviced residences that integrate heritage stories with curated hospitality experiences.

The Crest Collection in Europe currently consists four properties in France, including La Clef Champs-Élysées Paris by The Crest Collection and La Clef Louvre Paris by The Crest Collection, with plans for more properties in London, Bucharest, Hanoi, Tokyo, and another property in Paris.

Three properties under the brand opened in August and October of this year – The Grand Mansion Menteng in Jakarta, Indonesia; The Robertson House in Singapore; and The George Penang in Penang, Malaysia.

Serena Lim, Ascott’s chief growth officer, said: “The ease of conversion with a collection brand means increased speed to market, and that is key especially in today’s economic climate amidst tighter lending conditions and rising construction costs.”

Serena Teo, CEO of CapitaLand Ascott Trust’s managers, added: “CLAS proactively enhances our portfolio by investing in quality assets with prime locations. The Robertson House by The Crest Collection in Singapore and La Clef Tour Eiffel Paris by The Crest Collection are two of six properties in our current asset enhancement initiative pipeline.”

Thephoperties’ asset enhancement initiatives (AEIs) are aimed at improving their yield and value to capitalise on growth opportunities as travel recovers. CLAS is also executing an AEI for the The Cavendish London in the United Kingdom, slated to be rebranded under The Crest Collection.

Teo concluded: “By reimaging our properties as The Crest Collection, we will be able to create a unique storied and upper upscale experience drawn from the distinct heritage of each location and property. This will appeal to a higher tier of leisure and corporate travellers and command higher rates, strengthen our income stream, and enable CLAS to deliver long-term value to our stapled securityholders.”

Ascott has seen the demand for collection brands from owners, and The Crest Collection is one way Ascott is committed to managing their owners’ assets for the short and medium term with an eye to long-term strategic growth. By working closely with their owners to uplift the value of their real estate, Ascott is ensuring longevity and future-proofing their business.