Ascott's Expansion: Luxury and new trends in Thai tourism!

Ascott's Expansion: Luxury and new trends in Thai tourism!

Ascott Limited Thailand, part of CapitaLand Investment, unveiled its ambitious plans for the coming year on October 16, 2025. With a clear focus on robust growth, the company is aiming for extensive portfolio expansion and diverse accommodation offerings in Thailand. Ascott plans to further expand its commitment to the Southeast Asian country and implement numerous new projects to meet the evolving needs of travelers.

The company currently operates 26 properties in Thailand and one in Laos and has four additional projects in the pipeline. Recent developments include La Clef Bangkok by The Crest Collection, a luxury serviced apartment that opened in June 2025. Additionally, Ascott Abov Patong Phuket will mark the debut of the resort and branded residence segment in Phuket. The occupancy rates are showing a positive development: in Bangkok it is 68%, in Sriracha and Pattaya it is 70% and in Vientiane it is even 80%.

Growth strategy and diversification

What are the driving forces behind Ascott's expansion plans? The company has a triple strategic focus: an asset-light strategy, the multi-typology strategy and portfolio expansion partnerships in key leisure destinations such as Pattaya and Hua Hin. Despite challenges in the leisure segment, Ascott expects year-on-year growth in demand for corporate stays, highlighted by strong demand from markets such as Thailand, Japan, China, Taiwan, the US, Austria and South Korea. Notably, more than 70% of global travelers are willing to pay more for sustainable accommodation, underscoring the relevance of Ascott's commitment to environmentally conscious practices.

Travel trends have changed: longer stays and combining work and leisure, also known as bleisure trips, are becoming increasingly important. Nearly 70% of business tourists are extending their trips for leisure activities, and digital nomads seeking flexibility are driving demand for longer stays. In a rapidly changing market, Ascott adapts its offering flexibly to the needs of travelers.

Tourism in Thailand

Thailand is one of the leading travel destinations in the world and impresses with its cultural diversity, delicious cuisine and beautiful landscapes. According to Statista, the number of international arrivals has continued to increase and revenue from the tourism sector rose to over 172 billion Thai baht by December 2024. Bangkok, as the main destination for many travelers, generated over 940 billion Thai Baht in sales in 2024 alone. Hot on its heels are provinces such as Chiang Mai, Phuket and Pattaya, which are also in high demand.

While the impact of the COVID-19 pandemic is still being felt, the return to normality following the lifting of travel restrictions in 2022 has resulted in a rapid recovery of tourism in Thailand. However, the country remains wary of safety and environmental friendliness, so the government is increasing its commitment to environmental protection measures. These developments provide Ascott with a solid basis for further growth in the coming years and demonstrate the importance of adaptability in the new era of tourism.

Overall, with a diversified portfolio, sustainable growth and a keen eye for the needs of modern travelers, Ascott plans to establish itself as a sought-after player in the hotel and real estate market in Thailand. The company will continue to target new properties in second-tier cities and attractive lifestyle and leisure sectors, bringing exciting news to the Thai tourism industry.