Ascott Fast-Tracks Growth with Oakwood Acquisition

Ascott Fast-Tracks Growth with Oakwood Acquisition

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(04 July 2022, 10:57 +07)
Ascott has confirmed that it’s within the course of
of buying Oakwood Worldwide, a serviced residence supplier,
from Mapletree Investments.

The acquisition, particulars of which haven’t been
launched, will improve Ascott’s international
portfolio by 81 properties and about 15,000 items.

Oakwood’s roughly 8,500 operational items
are anticipated to instantly contribute to Ascott’s recurring payment
earnings streams upon completion of the transaction slated in 3Q
2022.

Ascott’s acquisition of Oakwood will leapfrog
Ascott’s international presence to greater than 150,000 items in about 900
properties throughout over 200 cities in 39 nations.

 

Oakwood Premier Tokyo. Click to enlarge.

Oakwood Premier Tokyo

 

It will add new markets which embrace Cheongju in
South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh;
in addition to Washington D.C. within the United States of America.

“We intend to construct on the robust popularity and
heritage of the Oakwood model, particularly in markets throughout
Southeast Asia, North Asia and North America. Oakwood will
proceed to develop alongside Ascott’s present portfolio of world
manufacturers as we proceed to construct development momentum for our lodging
enterprise,” mentioned Kevin Goh, CapitaLand Investment’s Chief Executive
Officer for Lodging. “Besides strategic alignment, this
acquisition can be notable to Ascott commercially. Ascott’s
acquisition of Oakwood brings about a direct increase to our
items below administration and franchise contracts. The Oakwood
portfolio will speed up the expansion of our asset-light enterprise,
with added recurring payment earnings streams, expanded lodging
choices and elevated buyer base. The strategic strikes we’ve
made in the previous few years, reminiscent of our investments in Quest,
Synergy and TAUZIA have charted an unprecedented development path for
Ascott.”

Ascott’s strategic investments up to now years
embrace its

acquisition of Quest Apartment Hotels (Quest)
, one of many
largest serviced residence operators in Australasia, in 2017 to
develop its enterprise franchise arm.

In the identical 12 months,

Ascott invested in Synergy Global Housing (Synergy)
, a
company housing supplier within the USA.

In 2018, Ascott acquired Tauzia Hotel Management,
an Indonesia-based resort operators, to enter the fast-growing
mid-scale enterprise resort phase.

With Oakwood coming onboard, Ascott is assured
of attaining its goal  of 160,000 items globally effectively forward
of 2023.

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