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around the globeSINGAPORE – The Ascott Limited (Ascott), a subsidiary of CapitaLand Investment, announced that its Citadines portfolio has surpassed 200 properties globally, with a total of 205 properties and approximately 35,000 units. Of these, over 60% (127 properties) are currently operational, offering around 22,200 units to its guests. Ascott has also seen great success with its Citadines brand in the last three years, securing more than 50 new properties with around 8,000 units. Additionally, the brand has expanded into 18 new cities, including Colmar, Hobart, Liverpool, Surabaya, Phu Quoc, Udupi, Tangier, Marrakech, and Kuwait. In the Chinese market, Ascott has added locations in Changshu, Dalian, Foshan, Guilin, Nanjing, Shenzhen, Tianjin, and Zhuhai.A crucial growth strategy for Ascott is conversion properties, which have accounted for 61% of the company’s global unit openings in the first seven months of 2025. Recently, Citadines Antasari Jakarta was converted and opened within a mere three weeks in August, while the Citadines City Centre Liverpool underwent a three-month transformation and reopened in June.In 2025, Ascott’s Citadines brand has also seen strong growth in franchising deals, with 15 franchised properties in both the operating and pipeline portfolios, offering around 2,000 units. China, in particular, has seen a significant increase in franchise deals, with four out of five recent deals in cities like Shenzhen, Shanghai, Wuxi, and Xi’an. One notable opening includes the Citadines Universiade Centre Longgang Shenzhen, which opened in November 2025, just eight months after signing. Outside of Asia, the Citadines Almaz Casablanca opened in early 2025, marking the brand’s debut in Morocco.Ascott attributes the brand’s success to the favourable trends in the upper-midscale market, with industry analysts noting that the segment has outperformed both pre- and post-pandemic. With a projected CAGR of 6.8% through 2033, the broader midscale market is valued at US$115.2 billion in 2024. Serena Lim, Ascott’s Chief Growth Officer, believes that the Citadines brand has resonated with owners due to its built-in versatility, supported by Ascott’s flex-hybrid model that caters to both short and extended stays. As a prominent brand in the upper-midscale segment, Citadines offers operational efficiency, flexibility, and strong customer appeal. This positioning has allowed for scalable growth opportunities, especially through franchising.Lim adds, “Our franchise model is conversion-friendly and operationally efficient, giving partners a way to enter the market faster and with less complexity. We are seeing great momentum in key markets, where franchise deals now contribute significantly to our signings. As more owners seek trusted partners and high-performing midscale brands, we believe that franchise-led growth will be a crucial driver of Citadines’ continued global expansion.”Until the end of 2026, Ascott plans to launch 20 more Citadines properties, including new locations in Hobart, Phnom Penh, Davao, Shanghai (Hongkou Plaza), Guangzhou (Huadu), Surabaya, and Casablanca (Racine). As of 4:30 pm, shares of CapitaLand were trading at $2.68.

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