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An announcement from CapitaLand Investment Limited ( (SG:9CI) ) is now available.
The Ascott Limited is significantly expanding its Oakwood brand, with 16 new property signings in 2024, marking a 30% increase from the previous year and illustrating a strategic push into the growing bleisure travel market. This expansion includes new Oakwood Premier properties in Adelaide, Bali, Shenzhen, and Singapore, and enhances the brand’s portfolio in resort destinations, positioning Oakwood to capitalize on the rising demand for accommodations that cater to both business and leisure needs.
More about CapitaLand Investment Limited
The Ascott Limited, a subsidiary of CapitaLand Investment Limited, operates within the lodging industry, offering a diverse portfolio of serviced apartments, hotels, and residences. With brands such as Ascott, Citadines, and Oakwood, the company focuses on providing flexible accommodation solutions catering to both business and leisure travelers, or ‘bleisure’ travelers, across key global gateway cities and resort destinations.
YTD Price Performance: -4.96%
Average Trading Volume: 9,041,282
Technical Sentiment Consensus Rating: Buy
Current Market Cap: S$12.75B
For detailed information about 9CI stock, go to TipRanks’ Stock Analysis page.
