Singapore, 27 June 2024 – The Ascott Limited (Ascott), a prominent lodging business unit under CapitaLand Investment (CLI), has announced six pivotal appointments in the realms of business development, strategy, and operations. These strategic hires are set to fortify Ascott’s global expansion, enhancing its management and franchise contracts while propelling strategic growth.
Ascott’s ambitious goal of surpassing S$500 million in fee revenue by 2028 underscores its commitment to robust growth. The company’s business development team has welcomed Ms. Venessa Koo as Vice President for Hong Kong, Taiwan, the Philippines, and Vietnam; Mr. Teo Junrong as Vice President for Singapore, Malaysia, and Indonesia; and Mr. Thomas Lamson as Vice President for Business Development and Product & Technical Services for Europe, Middle East, and Africa (EMEA). Additionally, Mr. Joseph Wong, Managing Director for China, will drive business development alongside overseeing all operational aspects in this critical market.
To spearhead strategic growth and operational excellence, Ascott has appointed Mr. Steven Chan as Vice President of Global Franchise Services and Regional General Manager for Indochina, and Ms. Sophie Mougel as Vice President of Strategy and Regional General Manager for the Philippines and Malaysia. Both executives will leverage their deep local insights to harness new opportunities in their respective regions.
Ms. Serena Lim, Chief Growth Officer at Ascott, emphasized, “The appointment of these industry veterans to our business development team signals our commitment to invest in top talent to build Ascott’s growth ecosystem and establish Ascott as the operator of choice for lodging property owners around the world. With each of them focusing on a key region, Ascott is now better positioned to penetrate deeper into existing markets and make headway in new markets through targeted growth strategies. Leveraging Ascott’s diverse portfolio of brands, wide range of accommodation options, and extensive global network, we are confident of offering customized solutions that deliver sustained value to owners.”
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Ms. Wong Kar Ling, Chief Strategy Officer at Ascott, added, “Ascott has embarked on a transformative journey to become a global leader in hospitality, and we are actively looking for new opportunities to stay ahead and elevate our position in the ever-evolving industry. The appointment of new strategy and operational leads will help us to drive Ascott’s commercial performance in key markets while pursuing strategic growth initiatives such as mergers and acquisitions, transformation, and partnerships. We are committed to strengthening Ascott’s competitive edge to continue delivering exceptional stay experiences for our guests, strong value and returns for our owners, as well as attractive career opportunities for our associates.”
Profiles of New Appointees:
Venessa Koo, Vice President, Business Development Ms. Koo will shape Ascott’s business development strategies to expand its portfolio in Hong Kong, Taiwan, the Philippines, and Vietnam. With over two decades of experience in hospitality operations and consultancy, her expertise will drive market-specific growth.
Teo Junrong, Vice President, Business Development Mr. Teo will oversee business development opportunities in Singapore, Malaysia, and Indonesia. His previous role at Colliers Hotels & Leisure Asia as Director of Capital Markets and Advisory Asia highlights his expertise in cross-border hospitality transactions.
Thomas Lamson, Vice President, Business Development and Product & Technical Services, EMEA Mr. Lamson will structure development strategies for Ascott in EMEA, leading technical developments and asset enhancement initiatives. His background includes leadership roles at Adagio and JLL Hotels & Hospitality.
Joseph Wong, Managing Director, China Mr. Wong will lead Ascott’s portfolio in China, focusing on growth and operational efficiency. His extensive experience includes senior roles at IHG Hotels & Resorts.
Steven Chan, Vice President, Global Franchise Services and Regional General Manager, Indochina Mr. Chan will develop Ascott’s global franchise strategy and oversee properties in Indochina. His career spans roles in operations, finance, and revenue management across leading hospitality brands.
Sophie Mougel, Vice President, Strategy and Regional General Manager, the Philippines and Malaysia Ms. Mougel will implement Ascott’s global strategic plans and manage the performance of properties in the Philippines and Malaysia. Her previous roles include Director of Operations for Southeast Asia & Korea at IHG Hotels & Resorts.
Since pioneering Asia Pacific’s first international-class serviced residence in 1984, Ascott has grown into a trusted hospitality company with over 950 properties globally. With its extensive network and in-market expertise, Ascott continues to deliver exceptional value and opportunities for its stakeholders.
About The Ascott Limited
Ascott, established in 1984 with the opening of The Ascott Singapore, has become a leading hospitality company with over 950 properties in more than 220 cities across 40 countries. Headquartered in Singapore, Ascott offers diverse accommodations, including serviced residences, coliving spaces, hotels, senior living apartments, student housing, and rental properties. Its renowned brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, and more. The Ascott Star Rewards (ASR) program provides members with exclusive benefits and offers.
As a subsidiary of CapitaLand Investment Limited, Ascott leverages its network and expertise to grow fee-related earnings through hospitality and investment management. Celebrating 40 years of service, Ascott has launched the Ascott Unlimited campaign, highlighting its commitment to innovation and growth. Learn more at Ascott Unlimited.
About CapitaLand Investment Limited
CapitaLand Investment Limited (CLI) is a global real asset manager based in Singapore, managing S$134 billion in assets and S$100 billion in funds. CLI’s diverse portfolio includes retail, office, lodging, business parks, industrial, logistics, self-storage, and data centers. As CapitaLand Group’s investment management arm, CLI focuses on sustainable growth and aims to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. For more information, visit CapitaLand Investment.
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