The Ascott Limited, the wholly owned lodging business unit of CapitaLand Investment (CLI), has announced that it has hit a major milestone with its Citadines portfolio surpassing 200 properties globally, driven by asset-light growth through management and franchise agreements.
The upper-midscale conversion brand now comprises 205 properties and 35,000 units. Of these, more than 60%, or 127 properties and about 22,200 units, are currently operational.
Since the brand refresh three years ago, Ascott has signed more than 50 Citadines properties totalling about 8,000 units, underscoring strong market confidence in the brand’s renewed direction.
A quarter of these signings were conversion projects. This expansion brought Citadines into 18 new cities, strategically targeting high-potential tier-2 and tier-3 markets.
Key additions range from Colmar (France), Hobart (Australia) and Liverpool (United Kingdom) to Surabaya (Indonesia), Phu Quoc (Vietnam), Udupi (India), Tangier and Marrakech (Morocco) and Kuwait.
The brand has also broadened its footprint across China’s major hubs, entering Changshu, Dalian, Foshan, Guilin, Nanjing, Shenzhen, Tianjin and Zhuhai.
Conversions powering growth
Conversions enabling fast market entry accounted for 61% of Ascott’s unit openings globally in the first seven months of 2025, highlighting strong owner demand for swift and efficient operational launches.
This momentum aligns with Citadines’ conversion-ready model, which fast-tracks the rebranding and activation of existing properties.
For example, Citadines Antasari Jakarta was converted and opened within three weeks in August 2025, while Citadines City Centre Liverpool completed its transformation in around three months and opened in June 2025, a demonstration of the brand’s agility and owner-friendly execution.
Franchise growth gains traction
Citadines currently has 15 franchised properties comprising 2,000 units across its operating and pipeline portfolio. As owner interest continues to grow in key markets, franchise agreements are expected to become an increasingly important driver of the brand’s global expansion.
In China, where Ascott launched its franchise strategy for Citadines earlier this year to tap into a rapidly maturing market, four of five signings year-to-date have been franchise agreements. These include locations in Shenzhen, Shanghai, Wuxi and Xi’an.
Among these, Citadines Universiade Centre Longgang Shenzhen is on track to open in November 2025, about eight months after signing, underscoring the speed and efficiency of the franchise model.
Outside of Asia, Citadines Almaz Casablanca marks a key milestone as the brand’s debut property in Morocco, opened in early 2025 under a franchise agreement signed in late 2024.
Conveniently located just 30 minutes from Mohammed V International Airport, the property offers easy access to key financial, educational and lifestyle destinations.
Favourable market trends fuel growth
Citadines’ growth aligns with favourable trends in the upper-midscale hospitality segment. Industry analysis shows this segment consistently outperformed both before and after the Covid-19 pandemic, delivering more predictable returns backed by strong brand recognition, streamlined operations and a flexible customer base.
The broader midscale hotel market, valued at $115.2 billion in 2024, is projected to grow at a CAGR of 6.8% through 2033, driven by rising disposable incomes and growing demand for value-driven accommodation.
This expanding demand, particularly among emerging middle-class populations worldwide, creates fertile ground for Citadines to scale strategically.
Serena Lim, Chief Growth Officer, Ascott, said: "Citadines stands out to owners for its built-in versatility, enabled by Ascott’s flex-hybrid model that seamlessly supports both short and extended stays. As a leading brand in the resilient upper-midscale segment, Citadines offers flexibility, operational efficiency and strong customer appeal."
"This positioning has unlocked scalable growth opportunities, particularly through franchising. Our franchise model is conversion-friendly and operationally efficient, helping partners enter the market faster with lower complexity. We are seeing promising momentum in key markets, where franchise deals now account for a meaningful share of signings. As more owners seek trusted partners and high-performing midscale brands, franchise-led growth will become a key driver of Citadines’ continued global expansion," he added.
Since acquiring Citadines in 2004, Ascott has transformed it from a Europe-centric regional chain into a truly global hospitality platform.
This evolution is reflected in a diversified footprint spanning Asia Pacific (70%), Europe (20%) and a growing presence across the Middle East, Africa and Turkey.
Chief Commercial Officer Tan Bee Leng said: "Citadines is now Ascott’s largest brand and one of our fastest-growing brands, reflecting its global appeal among travellers. Along with its expansion, we are evolving the brand to meet the needs of loyal guests who increasingly blur the lines between work, leisure and discovery."
"Citadines is thoughtfully designed to support this lifestyle, with convertible room features, café-style check-ins and programming that supports exploration and promotes wellness," stated Leng.
"Through our Ascott Star Rewards programme, guests can earn and redeem points across a broader Citadines network, from dynamic city stays to relaxing resort escapes. This multi-typology approach strengthens Citadines as a trusted, versatile brand for global travellers seeking both familiarity and adventure. As the brand continues to scale, we remain focused on deepening guest engagement, building brand love and delivering experiences that resonate at every step of the journey," he added.-TradeArabia News Service
