The Ascott Limited (Ascott), the wholly owned lodging business unit of CapitaLand Investment (CLI), has signed seven new properties through franchise and management agreements totalling nearly 1,100 units across Vienna and Seville, marking a significant milestone in its ongoing European expansion. These additions will expand Ascott’s European portfolio to 64 properties with nearly 8,500 units across 26 cities in 10 countries, including both operational and pipeline properties. Globally, Ascott’s portfolio now totals over 1,000 properties with over 175,000 units.
The signings were announced at the official opening of lyf Gambetta Paris, Ascott’s first lyf property in France. Following a successful soft launch, the property has generated positive guest feedback and built an engaged community, demonstrating the rising appeal of the experience-led social living brand, now with eight properties across Europe, both operational and in development. The opening builds on strong operational momentum across Ascott’s European portfolio, with three properties under The Unlimited Collection brand launched in recent months and four lyf openings coming next year.
Mr Kevin Goh, Chief Executive Officer, Ascott, said: “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. Our expansion in Vienna, entry into Seville and growing lyf and The Unlimited Collection presence in Europe reflect the increasing demand from property owners and investors for trusted operators with global scale, proven brand architecture and robust distribution capabilities. 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.”
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: Citadines South Vienna, lyf Schönbrunn Vienna and Somerset Schönbrunn Vienna. They will add 750 units across various brands to Ascott’s portfolio in Vienna, including a second lyf-branded property opening by end-2026. Located in the city’s 15th district, the upcoming 150-unit lyf property is conveniently adjacent to the train station offering connections to major international and regional destinations, with seamless access to a shopping centre. These additions will bring Ascott’s Vienna portfolio to nine properties totalling nearly 1,400 units, strengthening its position as one of the city’s leading international hospitality operators.
Meanwhile, 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-metre man-made crystalline lagoon surrounded by beaches. Located just 10 minutes from Seville’s city centre 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 centre and many 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 over 500 units.
Mr 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 centres to resort destinations, expanding our reach while maintaining brand integrity. Whether in gateway cities or emerging leisure destinations, we remain committed to creating stay experiences that connect guests meaningfully to the places and communities they visit.”
