Oakwood Residence Beijing

The acquisition of Oakwood is a strong showcase of Ascott’s capabilities to leverage opportunities for growth. Oakwood properties have since been onboarded to Ascott’s loyalty programme, Ascott Star Rewards; global sales and marketing platforms; revenue and distribution network; digital and technology systems, as well as integrated with functions including operations, finance, human resource, and procurement. The successful integration of the brand into Ascott’s ecosystem enabled it to drive revenue uplift, improve operational efficiencies and optimise cost synergies of the Oakwood portfolio. By enhancing its conversion-friendly value proposition, Ascott won over new contracts of properties managed by other operators and expeditiously transitioned them to operate under its Oakwood brand. For example, Oakwood Hotel & Apartments Taman Mini Jakarta and Oakwood Makati Avenue were newly inked properties in 2023 which were swiftly converted and went into operations within months of signing.