S Hotels and Resorts PCL, a subsidiary of Singha Estate PCL, a leading international development company, has announced a strategic partnership with The Ascott Limited, a wholly owned lodging business unit of CapitaLand Investment. This collaboration marks the first strategic alliance between two leading Asian hospitality brands, signifying a significant step forward in S Hotels & Resorts’ strategy to strengthen its portfolio in the UK while enabling Ascott’s expansion in Europe.
Looking ahead, the companies plan to broaden their collaboration to other countries. The UK is S Hotels & Resorts’ largest market, with 25 hotels comprising 2,678 keys nationwide. This strategic partnership will play a major role in diversifying the company’s portfolio and driving sustainable revenue growth, helping S Hotels & Resorts achieve its target of THB 11 billion (approx. USD 299 million) in total full-year revenue for 2024.
Ms. Thitima Rungkwansiriroj, Chief Executive Officer, Singha Estate PCL, expressed her enthusiasm for the partnership, stating: “We are excited to partner with Ascott to enhance our presence in the UK and provide our discerning guests with exceptional experiences through international management for hotels located in strategic locations. This will lead to market expansion both domestically and internationally, ultimately resulting in sustainable financial returns. This partnership will strengthen our position as a leading international investment and development company.”
Mr. Michael Marshall, Chief Executive Officer, S Hotels & Resorts, highlighted the importance of this partnership in their business strategy, emphasizing their commitment to broadening their portfolio by introducing international brands to the UK market and creating new opportunities for growth.
Mr Kevin Goh, Chief Executive Officer, Ascott Limited, acknowledged the significance of their strong relationships with owners in Asia, which have been instrumental to Ascott’s success over its 40-year track record. He expressed their eagerness to expand their partnership network by forging new relationships and strengthening existing ties as they pursue Ascott’s global expansion.
Ms. Serena Lim, Chief Growth Officer, Ascott Limited, further elaborated on the partnership’s benefits, stating: “We are delighted to partner with Singha Estate and S Hotels & Resorts to expand Ascott’s portfolio in the UK. Ascott’s commitment to growing its presence in strategic locations worldwide is closely aligned with our partners’ ambition to expand their hospitality portfolio through innovative and high-quality developments. This partnership not only marks the fast-tracked growth of our brand footprint into new destinations, but also reiterates the confidence that owners have in Ascott.”
