Ascott Targets 300 New Properties, Eyes Resort Deals to Fill Loyalty Gap

Ascott got its start providing extended stays for corporate travelers. But it hasn't opened enough properties in places where people dream of vacationing. So expect it to buy resorts.

Ascott, the Southeast Asian hotel group, says it's actively seeking resort acquisitions to round out its portfolio of extended-stay travel lodging as it seeks to double its overall property count by 2028.

"We certainly would want to be acquiring resorts," said Wong Kar Ling, its chief strategy officer, at the Skift Asia Forum last week.

Wong, who led Ascott's acquisition of Oakwood in 2022, said corporate travelers accumulating loyalty points in Ascott's rewards program often want more fun vacation redemption options.

"A lot of our [loyalty members],