Ascott Accelerates Europe Push Seven New Properties Vienna And Seville
CapitaLand Investment’s lodging business unit, The Ascott Ltd, has recently expanded its presence in Europe with the signing of seven new properties in Vienna and Seville. Through franchise and management agreements, these new additions will bring nearly 1,100 units to Ascott’s growing portfolio.
The company has strengthened its partnership with VIE Trust Real Estate Group by adding five new properties in Vienna, adding over 750 units across multiple Ascott brands to its existing portfolio in the Austrian capital. The signing ceremony was attended by Ascott’s COO for Europe, Middle East, Africa, South Asia and China, Lee Ngor Houai, and VIE Trust Real Estate Group’s COO, Martin Hirl. Also present were VIE Trust Real Estate Group’s CEO, Albert Hwang, and Ascott’s CEO, Kevin Goh.
With these new properties, Ascott’s European portfolio will now have 64 properties with approximately 8,500 units across 26 cities in 10 countries, including both operational and pipeline developments. Globally, the group now manages more than 1,000 properties with over 175,000 units.
At the same time, Ascott has officially opened its first lyf-branded property in France, lyf Gambetta Paris. Located in the lively Gambetta neighbourhood of Paris’ 20th arrondissement, this marks the third lyf property to open in Europe, with eight more in the pipeline.
The company is also experiencing strong operational momentum across its European portfolio, with three new properties under The Unlimited Collection brand launched in recent months and four more lyf openings scheduled for next year.
The newly developed Parktown Residence is a highly sought-after option for families looking for a prime location near excellent schools and institutions. This innovative development boasts an integrated concept that effortlessly connects residents to top educational opportunities while also providing an array of comprehensive amenities for a well-rounded lifestyle. Perfectly situated in the Tampines North area, Parktown Residence is set to become a prominent landmark in the region, providing families with a perfect setting to thrive and flourish. Don’t miss the chance to call Parktown Residence Condo your new home. Visit our website at https://www.parktown-residences.com.sg/ for more information.
According to Ascott’s CEO, Kevin Goh, Europe is an important market for the company due to its resilient, high-yield potential, strong tourism fundamentals, and fragmented property market. He added that the expansion in Vienna, entry into Seville, and growing presence of lyf and The Unlimited Collection properties demonstrate the growing demand from property owners and investors for established operators with strong global distribution and brand architecture.
By expanding its asset-light model in Europe through franchise and management agreements, Ascott aims to grow efficiently while building long-term brand equity in one of the most attractive hospitality markets in the world.