
Ascott expands Oakwood brand with 16 new property signings in 2024
The Oakwood portfolio now comprises nearly 100 properties.
The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), has accelerated the expansion of its Oakwood brand, securing 16 new property signings in 2024.
This includes four Oakwood Premier signings following the brand refresh of Oakwood in early 2024.
Additionally, new openings in 2024 include Oakwood Suites Chongli, a ski resort in Zhangjiakou City, Hebei Province, China; Oakwood Ha Long in Ha Long City; and Oakwood Hotel & Apartments Grand Batam.
“Notably, the signings will mark the entry of Oakwood Premier into new cities such as Adelaide, Bali, and Shenzhen,” said Serena Lim, chief growth officer of Ascott.
The newly signed Oakwood Premier properties include Oakwood Premier Adelaide, Oakwood Premier Luohu Shenzhen, and a new property in Bali.
In Singapore, the Oakwood Premier brand returns with Oakwood Premier Draycott Singapore, located in the Orchard Road precinct.
This addition will expand Oakwood’s presence in Singapore to two properties, joining Oakwood Studios Singapore.
The Oakwood portfolio now comprises nearly 100 properties, both operational and in the pipeline.
Oakwood operates in 14 countries and 50 cities worldwide, including Tokyo, Jakarta, Beijing, and Manila.