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New Appointments

Ascott announces key appointments to drive global growth

Ascott Limited New Appointments

Ascott Limited appoints six industry veterans to spearhead global expansion and strategic growth, targeting over S$500 million in fee revenue by 2028.

SINGAPORE – The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment (CLI), announced six key appointments in the functions of business development, strategy and operations that will support its global expansion in management and franchise contracts as well as catalyze strategic growth. This comes as Ascott charts a new growth trajectory towards achieving its target of more than S$500 million in fee revenue by 2028.

The new appointments to Ascott’s business development team are Ms Venessa Koo, Vice President, Business Development for Hong Kong, Taiwan, the Philippines and Vietnam; Mr Teo Junrong, Vice President, Business Development for Singapore, Malaysia and Indonesia; and Mr Thomas Lamson, Vice President, Business Development and Product & Technical Services for Europe, Middle East and Africa (EMEA). In addition, Mr Joseph Wong, Managing Director for China, has been entrusted with driving business development, on top of overseeing all aspects of Ascott’s operations, in this key market.

To identify strategic growth opportunities and drive operational excellence, Ascott also welcomes Mr Steven Chan as Vice President, Global Franchise Services and Regional General Manager for Indochina, as well as Ms Sophie Mougel as Vice President, Strategy and Regional General Manager for the Philippines and Malaysia. Both helm dual portfolios that tap into their deep local knowledge to harness new opportunities in these markets.

Ms Serena Lim, Chief Growth Officer, Ascott, said: “The appointment of these industry veterans to our business development team signals our commitment to invest in top talent to build Ascott’s growth ecosystem and establish Ascott as the operator of choice for lodging property owners around the world. With each of them focusing on a key region, Ascott is now better positioned to penetrate deeper into existing markets and make headway in new markets through targeted growth strategies. Leveraging Ascott’s diverse portfolio of brands, wide range of accommodation options and extensive global network, we are confident of offering customised solutions that deliver sustained value to owners.”

Ms Wong Kar Ling, Chief Strategy Officer, Ascott, said: “Ascott has embarked on a transformative journey to become a global leader in hospitality, and we are actively looking for new opportunities to stay ahead and elevate our position in the ever-evolving industry. The appointment of new strategy and operational leads will help us to drive Ascott’s commercial performance in key markets while pursuing strategic growth initiatives such as mergers and acquisitions, transformation and partnerships. We are committed to strengthening Ascott’s competitive edge to continue delivering on exceptional stay experiences for our guests, strong value and returns for our owners, as well as attractive career opportunities for our associates.”