The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment (CLI), has marked the fifth year of its global loyalty platform, Ascott Star Rewards (ASR), with record results from FY 2023.
Having grown exponentially since its launch in April 2019, Ascott achieved its highest-ever room revenue from ASR members last year at over SD $342 million, surpassing FY 2022 by almost 63 percent. This was from its 350 participating properties across 14 brands, where repeat stay revenue from ASR members constituted more than 60 percent.
Ascott also welcomed a record one million new ASR members in FY 2023. More than 90 percent of Ascott's direct web and mobile app bookings were made by ASR members, contributing to the channel's surge in booking revenue by over 40 percent, compared to 2022. The average spend per transaction of ASR members was over 50 percent higher than non-members. The dominance of pan-Asian travel was highlighted through the booking preferences of ASR members in 2023. Out of the top 10 travel destinations for ASR members, eight were Asian countries, while the top five feeder markets for international stays were China, Singapore, the USA, Indonesia, and Australia. Building on the strong momentum, Ascott anticipates yet another stellar year for ASR in 2024, with 1Q 2024 already registering a 25 percent year-on-year uplift in member revenue.
"Riding on the strong momentum of travel recovery, Ascott saw the highest number of property openings in 2023," said Tan Bee Leng, Chief Commercial Officer.
"This brought about a record number of properties onboarded onto the Ascott Star Rewards programme last year, which included the successful integration of the newly acquired Oakwood portfolio into Ascott's operational framework. Ascott was able to provide higher-value offerings and more choices across brands and geographies to our ASR members. Our pipeline of property openings following several consecutive years of record signings will propel ASR towards further expansion and innovation in the year ahead."
With a robust database of ASR members with an Asian stronghold driving an active member rate of over 60 percent, Tan said Ascott has a deep appreciation of evolving travel trends and the hospitality landscape, especially in the Asia Pacific region.
"As Ascott continues its growth upswing globally, we will be distilling insights from member preferences to enhance and refine our offerings. All to ensure that Ascott remains the preferred accommodation of choice; and ASR to not only foster loyalty but to drive substantial business growth too."
Celebrating the fifth year of its loyalty programme, Ascott has rolled out a refreshed brand promise for ASR from April 2024.
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