S Hotels & Resorts partners with Ascott to drive UK growth under 'The Unlimited Collection'

A major new hotel management agreement introduces Ascott's collection brand to key cities in the UK, further advancing S Hotels & Resorts portfolio enhancement strategy.

BANGKOK, Aug. 14, 2024 /PRNewswire/ -- S Hotels and Resorts PCL (SET: SHR), the hospitality arm of leading international development company Singha Estate PCL (SET: S) has partnered with The Ascott Limited (Ascott), the wholly owned lodging business unit of CapitaLand Investment (SGX: 9CI), to reposition SHR properties in Edinburgh and Leicester under The Unlimited Collection brand. As part of the strategic move, Mercure Edinburgh City Princes Street Hotel and The Grand Hotel Leicester will be rebranded under The Unlimited Collection, a brand that focuses on accentuating the unique cultural charms of each property. This collaboration will mark the Europe debut of The Unlimited Collection brand, which originates from Singapore.

According to a recent survey by Skyscanner, leisure travellers are increasingly drawn to cultural experiences. In fact, 54% of respondents consider culture an important factor when choosing a travel destination. The UK, renowned for its art, history and vibrant culture, naturally lends itself to experiential travel. Capitalising on this trend, SHR has identified two hotels from its 26-strong UK portfolio for conversion into The Unlimited Collection, joining a curated selection of independent hotels in vibrant neighbourhoods that feature exquisite designs and fulfil travellers' aspirations for authenticity and immersive local cultural experiences. Designed to offer a unique experience from each destination, every property in The Unlimited Collection is a local landmark that leads guests to intriguing personal discoveries and engaging community experiences.

By the end of 2024, the 169-key Mercure Edinburgh City Princes Street Hotel located in the historic heart of Scotland's capital city will be rebranded as Mount Royal Hotel Edinburgh by The Unlimited Collection, offering unrivalled views of Edinburgh Castle. Standing as one of the key cities in the UK, Edinburgh boasts some of the most beautiful cityscapes in the world, with its mediaeval Old Town and neoclassical New Town named a UNESCO World Heritage Site in 1995. In the years following the pandemic, the city's international airport, catering to both domestic and international flights, has experienced robust demand for leisure travel.

Meanwhile, The Grand Hotel Leicester will be known as The Grand Hotel Leicester by The Unlimited Collection from 2Q 2025, welcoming guests to experience the opulence of the Grade II-listed Victorian building that has played host to several historic events. The hotel's 104 rooms and suites, restaurant and extensive conference facilities will undergo refurbishment before reopening, ensuring memorable stays in this culturally rich Midland's city. Leicester, renowned for its vibrant arts and culture scene, is home to numerous galleries, museums and theatres hosting a diverse array of events. Additionally, it holds historical significance as the burial site of King Richard III, whose tomb lies within Leicester Cathedral. Conveniently located just one hour away from London, Leicester offers a captivating blend of heritage and contemporary experiences.

"Partnering with a strong hospitality company like Ascott is a great strategic move for Singha Estate and S Hotels & Resorts. These iconic buildings play a pivotal role in our UK strategy, and I am confident that, under The Unlimited Collection umbrella, they will fully realise their potential as investment properties," said Michael Marshall, Chief Executive Officer, S Hotels & Resorts. "The Unlimited Collection is known for unique designs that showcase the heart and soul of the destination, making it the perfect match for our hotels in Edinburgh and Leicester. The rebrandings are key to the success of our overall UK strategy, positioning us to achieve our financial goals for 2024 and beyond. Looking ahead, we anticipate expanding our partnership with Ascott to include hotels in two additional key UK cities, aiming to increase RevPAR by up to 30% by 2026 compared to 2023 levels."

Kevin Goh, Chief Executive Officer for Ascott and Lodging, CapitaLand Investment, said, "Ascott is delighted to collaborate with leading Asia-based companies, Singha Estate and S Hotels & Resorts, to make our mark on the hospitality sector in Europe, a key market in Ascott's global expansion. We are honoured that the owners have identified two of their iconic hotels to be part of The Unlimited Collection, a curated selection of storied hotels with distinct cultural charms that responds to growing guest demand for authentic local experiences. We will leverage Ascott's established conversion capabilities to swiftly bring both hotels to market while preserving their original characters. We look forward to continuing our support for the owners with our diverse portfolio of brands, tailored solutions and in-market knowledge, exemplifying the strengths of Ascott's flex-hybrid hotel-in-residence model."

About S Hotels and Resorts Public Company Limited

S Hotels and Resorts Public Company Limited (SET:SHR), the hospitality arm of Singha Estate Public Company Limited, is a fast-growing, Thai-inspired company with an extensive international portfolio and world-class standards. Specialising in the management and investment of high-quality hotels and resorts in desirable destinations across the globe, S Hotels & Resorts has created a collection of its own distinctive lifestyle brands, whilst also partnering with the hospitality industry's leading names. The company aims to set new standards for leisure and lifestyle through diversified business platforms and to enhance value for all its stakeholders based upon a philosophy of sustainable development and delivering benefits to local communities. To learn more, please visit www.shotelsresorts.com or follow us on Facebook, Instagram, Youtube, or LinkedIn. 

About Singha Estate Company Limited

Singha Estate Public Company Limited (SET:S) is an international property development and  investment  company  focusing  on  investing  in  high potential business, driving corporate position to become a premier holding company through robust financial status and premium quality product offerings, building strong and sustainable growth through a well-balanced portfolio. The company is growing its business with an optimum portfolio of residential, hospitality, commercial, , and industrial estate & infrastructure. The company is heading towards a full-fledged global holding company, with a commitment of good corporate citizenship that delivers sustainable values to shareholders. To learn more, please visit www.singhaestate.co.th.

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with over 950 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 230 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Somerset, The Crest Collection, The Unlimited Collection, Fox, Harris, POP!, Preference, Quest, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

This year, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott's ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at www.discoverasr.com/ascottunlimited.

For more information on Ascott and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Alternatively, connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited (www.capitalandinvest.com)

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold.  As at 31 March 2024, CLI had S$134 billion of assets under management as well as S$100 billion of funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA.  Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics, self-storage and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and commercial management, and maintain effective capital management.  As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm. 

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050.  CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

SOURCE S Hotels and Resorts PCL