S Hotels & Resorts and Singha Estate form a strategic partnership with Ascott enhancing the hospitality sector in the United Kingdom

Companies sign major new partnership to strengthen and enhance their portfolio strategies, in an industry first for two leading Asian hotel groups in the UK

Pictured: Thitima Rungkwansiriroj, CEO of Singha Estate (third right) presents the strategic collaboration agreement with Kevin Goh, CEO of The Ascott Limited (third left), with Michael Marshall, CEO of S Hotels & Resorts (second right) and Wong Kar Ling, Ascott’s Chief Strategy Officer and Managing Director for Southeast Asia (second left).  Also present are Issarin Patramai, CFO of S Hotels & Resorts (far right), and Serena Lim, Ascott’s Chief Growth Officer (far left)."

BANGKOK, THAILAND: S Hotels and Resorts PCL (SET: SHR), a subsidiary of Singha Estate PCL (SET: S), a leading international development company, has announced a strategic partnership with The Ascott Limited (SGX: Ascott), a wholly owned lodging business unit of CapitaLand Investment (SGX: CLI).

The collaboration between S Hotels & Resorts and Ascott marks the first time that two leading Asian hospitality brands have formed a strategic alliance. It is a significant step forward in S Hotels & Resorts’ strategy to strengthen its portfolio in the UK, whilst also enabling Ascott’s expansion in Europe. Looking ahead, the two companies hope to broaden their collaboration in other countries.

The UK is S Hotels & Resorts’ largest market, in terms of portfolio size, with 25 hotels comprising 2,678 keys nationwide. As such, this strategic partnership will play a major role in contributing to the diversification of the company’s portfolio and sustainable revenue growth, helping the company to achieve its target of THB 11 billion (approx. USD 299 million) in total full-year revenue in 2024.

Ms. Thitima Rungkwansiriroj, Chief Executive Officer, Singha Estate PCL, commented: “We are excited to partner with Ascott to enhance our presence in the UK and provide our discerning guests with exceptional experiences through international management for hotels located in strategic locations. This will lead to market expansion both domestically and internationally, ultimately resulting in sustainable financial returns. This partnership will strengthen our position as a leading international investment and development company.”

Mr. Michael Marshall, Chief Executive Officer, S Hotels & Resorts, said: “This is an important step forward in our business strategy, as we continue to broaden our portfolio by introducing international brands to the UK market and creating new opportunities for growth.”

Mr Kevin Goh, Chief Executive Officer, Ascott Limited, said: “As an Asia-based hospitality company with 40 years of track record, our strong relationships with owners in this region has been key to Ascott’s success. We look forward to bolstering our partnership network by forging new relationships with owners and strengthening ties with existing ones as we chart Ascott’s global expansion.”

Ms. Serena Lim, Chief Growth Officer, Ascott Limited, added: “We are delighted to partner with Singha Estate and S Hotels & Resorts to expand Ascott’s portfolio in the UK. Ascott’s commitment to growing its presence in strategic locations worldwide is closely aligned with our partners’ ambition to expand their hospitality portfolio through innovative and high-quality developments. This partnership not only marks the fast-tracked growth of our brand footprint into new destinations, but also reiterates the confidence that owners have in Ascott.” 

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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 continues 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 a commitment to delivering to the economic, environmental and social well-being of the local communities where it operates. 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 and infrastructure. The company is heading towards a fully-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 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.

For more information and high-resolution images, contact:

Lalita Somboonsuk (Ta)

Senior Manager - Corporate Marketing Communications

S Hotels & Resorts | Singha Estate PCL

Tel: +66 (0) 2058-9888 ext. 320

E-mail: lalita.s@shotelsresorts.com

Website: www.shotelsresorts.com