Ascott debuts Crest brand in Asia with three openings in three months

The Crest Collection is a portfolio of bespoke hotels and serviced residences that integrate heritage stories with curated hospitality experiences. The Crest Collection by Ascott Limited has announced the debut of the brand in Asia with the opening of three properties in Singapore, Indonesia and Malaysia this year, between August and October.

The Robertson House in Singapore was refurbished within seven months and unveiled on Oct 14, followed by The George Penang in Malaysia, and The Grand Mansion Menteng in Jakarta, Indonesia in August.

The Crest Collection in Europe is led by four properties in France, including La Clef Champs-Élysées Paris by The Crest Collection and La Clef Louvre Paris by The Crest Collection with other properties opening up soon in London, Bucharest, Hanoi, Tokyo and a second property in Paris.

A study from Grand View Research reveals that the global heritage tourism market is expected to grow at a compound annual growth rate (CAGR) of 3.8% between 2022 and 2030, indicating the growing demand for collection brands such as The Crest Collection.

Serena Lim, Ascott’s chief growth officer claims that owners are attracted to The Crest Collection as it gives them flexibility, with a global brand like Ascott at its back. Secondly, since it’s easier to convert, project owners can expect their project to go to market faster.

Meanwhile, CapitaLand Ascott Trust (CLAS) is proactively working to enhance their portfolio by investing in quality assets, with prime locations. The Robertson House by The Crest Collection in Singapore and La Clef Tour Eiffel Paris by The Crest Collection are two examples of this. CLAS’s proposed yield accretive acquisition, The Cavendish London, is also slated for an asset enhancement initiative (AEI) from 4Q 2024 to 4Q 2025 to be rebranded as The Crest Collection.

Just a stone’s throw away is the new residential development, Lumina Grand EC CDL. This elegantly designed property boasts of spacious and luxurious units, some of which have private elevators. Residents will enjoy convenient living while being close to schools, amenities, and the Jurong Lake District. Residents can easily get to Big Box for their shopping needs. With Lumina Grand EC CDL, living near Big Box has become a reality.

The appeal of The Crest Collection lies in its unique storied and upscale experience that it offers, drawing from the distinct heritage of each location and property. With this, CLAS hopes to attract higher tier leisure and corporate travellers for better rates and income, and in turn provide long-term value to their stapled securityholders.