The Business Times
business-time-50

Ascott looks to develop revenue streams beyond rooms, grow luxury offering

google-preferred-sourceAdd BT as a preferred source
Jessie Lim

Jessie Lim

Published Mon, Oct 23, 2023 · 05:00 AM
    • Kevin Goh, chief executive of The Ascott Limited, says the company is looking into expanding its revenue streams to include events and food and beverage operations.
    • Kevin Goh, chief executive of The Ascott Limited, says the company is looking into expanding its revenue streams to include events and food and beverage operations. PHOTO: CHERYL ONG, BT

    THE Ascott Limited is looking to diversify its revenue streams ahead of its 40th anniversary next year.

    It began its journey along Scotts Road in 1984. The Ascott Singapore was the first international-class serviced residence in the Asia-Pacific. In the following years, the company focused largely on revenue per available room, applying its expertise in managed serviced residences mainly for long-stay guests. 

    Speaking to The Business Times in an exclusive interview, Kevin Goh, chief executive of The Ascott Limited, said: “With our hotel-in-residence flex-hybrid model, we are able to diversify our revenue streams by offering a wider range of hotel services and amenities, and cater to different customer segments, varied by length of stay.

    the ascott limitedCAPITALAND ASCOTT TRUSTHospitalitySpotlight

    TRENDING NOW

    Traffic through the strait has been resuming but with interruptions, and there is still little clarity over a permanent solution for passages through the chokepoint.

    Qatari LNG ship struck in Strait of Hormuz, testing US talks

    This comes after a Citi note on Tuesday that lifted target prices for all Singapore banks, with a leading preference and “buy” call for DBS.

    DBS shares rise 1.9% to hit all-time intraday high as sentiment improves

    Aster deputy CEO Andre Khor, citing the age of the “polycrisis”, says: “It’s very important to be agile, to be focused on execution… We don’t know all the answers but we keep going forward.”

    ‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis

    Singapore ranks as the world’s most expensive city for cars and placed third globally for residential property.

    Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More