Ascott, a Singapore-based hospitality company owned by CapitaLand Investment (CLI), has accelerated the expansion of its Oakwood brand, signing 16 new properties in 2024, an increase of 30 pc  over the previous year.

In a press statement, Oakwood says that the new signings include four Oakwood Premier signings since the brand refresh of Oakwood in early 2024. Riding the growing demand for bleisure travel, the brand refresh initiative enhanced Oakwood’s appeal to guests blending business and leisure in their travels by offering the comforts of home and beyond, it adds.

Ascott says that the rapid growth of the Oakwood brand is anchored in Ascott’s flex-hybrid hotel-in-residence model, which seamlessly combines the comforts of a fully serviced apartment with the luxuries of a hotel stay. Offering a variety of room configurations to accommodate diverse travel needs and lengths of stay, Oakwood properties also provide a wide range of ancillary services, including dining options and meeting facilities.

The statement adds that the Oakwood portfolio now comprises nearly 100 properties, both operational and in the pipeline, solidifying its appeal to bleisure travellers. Oakwood’s global footprint spans 14 countries and 50 cities, with a strong presence in key gateway cities such as Tokyo, Jakarta, Beijing and Manila, as well as popular resort locations.

It says that the new openings in 2024 include Oakwood Suties Chongli, a ski resort in the winter sports hub of Chongli in Zhangjiakou City, Hebei Province of China as well as the all-villa Oakswood Ha Long, located in the heart of Ha Long City, a gateway to Vietnam’s UNESCO World Heritage site, Ha Long Bay. Another key opening is Oakwood Hotel and Apartments Grand Batam, offering tranquil water views on Indonesia’s Batam island. Ascott says that these openings mark the brand’s debut in these prime resort destinations.

Serena Lim

“Oakwood remains one of the fastest-growing brands in Ascott’s portfolio, driven by its strong positioning to capitalise on the increasing popularity of bleisure travel. With a 30 pc increase in signings in 2024 compared to 2023, Oakwood is well-placed to meet the needs of guests seeking a seamless balance between work and leisure. These new signings continue to drive Oakwood’s expansion into the resort sector, including the introduction of Oakwood Jimbaran Villas & Residences in Bali, one of the region’s most sought-after resort destinations. Beyond the volume of signings, we are seeing greater interest from property owners in the higher-tier Oakwood Premier brand following its recent refresh, with one in every four Oakwood signings in 2024 being an Oakwood Premier property. Notably, the signings will mark the entry of Oakwood Premier into new cities such as Adelaide, Bali and Shenzhen,” says Serena Lim, Chief Growth Officer, Ascott.