Innovative Loyalty Program Drives Ascott's Growth

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Innovative Loyalty Program Drives Ascott's Growth

The Ascott Limited, a Singapore-based serviced residence company, has reported significant growth driven by its Ascott Star Rewards (ASR) loyalty program.

Ascott Limited

The Ascott Limited, a Singapore-based serviced residence company, has reported significant growth driven by its Ascott Star Rewards (ASR) loyalty program. During fiscal year 2023, room revenue from ASR members increased by 63%, surpassing S$342 million. The program welcomed one million new members in the same period, highlighting its effectiveness in a competitive market.


Kevin Goh, Chief Executive Officer of Lodging at CapitaLand Investment, Ascott’s parent company, stated, “Our ASR program has enhanced customer loyalty and become a significant revenue driver. This achievement reflects our understanding of guests’ needs and ability to deliver personalized experiences.”


The company’s success extends beyond its loyalty program. In 2022, Ascott acquired the Oakwood brand, adding approximately 15,000 units to its global portfolio. This strategic move has positioned Ascott as a major player in the global serviced residence market, with a presence in over 220 cities across more than 40 countries.

Sustainability Initiatives Shape Ascott's Future

Ascott has made notable progress in reducing its environmental impact through its Ascott CARES program. The initiative recently achieved the Global Sustainable Tourism Council (GSTC) – Committed status. In 2023, the company reported a 13% reduction in energy consumption intensity compared to its 2019 baseline.


Beh Siew Kim, Chief Financial & Sustainability Officer of Lodging at CapitaLand Investment, emphasized the importance of these efforts: “Sustainability is a core part of our business strategy. We believe that responsible tourism is the future of hospitality, and we’re committed to leading this change.”


The company’s commitment to sustainability aligns with growing industry trends and consumer preferences for environmentally responsible travel options. This approach not only reduces Ascott’s environmental footprint but also positions the company as a leader in sustainable hospitality practices.

Ascott Limited

Market Expansion

Ascott Limited

Ascott continues to expand its global footprint with new property openings. The company is focusing on enhancing its ASR loyalty program to offer more membership privileges and elevated experiences.

Plans are underway to introduce new properties under the Lyf brand, targeting millennial travelers with upscale communal living spaces.

The company’s approach to combining customer loyalty, sustainability, and strategic expansion is setting new standards in the hospitality industry.

This strategy provides a potential blueprint for others in the sector to follow, as the industry continues to evolve and adapt to changing consumer preferences.

Future Outlook

Ascott Limited

Ascott’s blend of innovation, sustainability, and strategic growth positions it to shape the future of serviced residences and extended stay accommodations. The company’s focus on adapting to industry trends and consumer needs suggests it will continue to play a significant role in defining the future of hospitality.