What changes are you seeing in business traveller footfall in your establishments?
Philippe Mettey - We are sitting at around a 50/50 ratio between business and leisure customers. Within this context, business travellers are increasingly present from Tuesday to Thursday and slightly less so at the beginning and end of the week, due to the rise of remote working. At the same time, demand for stays lasting from several weeks to several months – for training courses or during a house move – remains strong. For the accommodation of their employees, our offering is well aligned with corporate expectations in terms of products, services and safety standards. Another point concerning corporate clients, who are increasingly sensitive to this issue: almost our entire European portfolio is now certified by the GSTC (Global Sustainable Tourism Council) label.
The attractiveness of your properties is also supported by the Ascott Star Rewards loyalty programme. How is it evolving?
P. M. - We have already passed the nine million member mark and will very likely be beyond ten million by the end of the year. But our goal is even more ambitious, with fifteen million members expected by 2028. The programme is therefore performing well, with a strong acquisition rate in Europe, and all corporate clients are eligible to earn points, even on very long stays. However, we still have opportunities for growth. To boost the attractiveness of the Ascott Star Rewards programme, we have signed partnerships with Asian airlines such as ANA, Cathay Pacific and KrisFlyer. And we could soon announce others, this time with European airlines. Furthermore, what people really like about this programme are the Ascott Privilege Signatures, as our top clients are invited to exclusive events, for example the Wimbledon and Roland-Garros tennis tournaments, the Singapore Formula 1 Grand Prix and, of course, as the Ascott Group is partner of this London football club, to Chelsea matches.
Let's move on to the evolution of your properties. Where does the renovation programme started some time ago for the Citadines brand currently stand?
P. M. - A renovation plan for the entire portfolio has been initiated, with transformations already completed in Paris for Citadines La Défense and Citadines Les Halles. To continue, we have just finished renovating Citadines Paris République, which has just been upgraded to four stars, as well as Citadines Lyon Part-Dieu, marked by a clear improvement in the product. At the same time, we are finalising the renovation of Citadines Bastille Gare de Lyon, followed by Citadines Place d’Italie, which is scheduled for delivery early next year. We will then launch the renovations of Citadines Paris Montparnasse and Lyon Presqu’île. And this movement is not limited to France. Citadines Kurfürstendamm Berlin has been transformed, as has Citadines London Holborn, an extremely important operation. And further renovations will be coming in England in the months and years to come.
What does this renovation programme involve? It is surely not just a lick of paint...
P. M. - No, obviously. The park needed to be renovated, but behind these transformations lies a whole concept that we will unveil next year. Ahead of this, significant work was done on the design with the Saguez agency, which helped us define the specifications for the renovations, while also supporting some of them. These are structural transformations, featuring an upgrade in quality and an evolution that responds to new customer expectations. With much more emotion in the experience, residences facing the city, and increased importance given to public spaces, which are becoming living areas where our guests can connect, socialise and work.
Will this renovation programme feed into future Citadines developments?
P. M. - We are committed to continuing to expand all of our global brands, whether it is Citadines and lyf, The Unlimited Collection and the Crest Collection, or another of our brands, Oakwood, which will soon make its debut in Europe. Its arrival is already scheduled for about forty minutes from Helsinki, near Espoo, Nokia's historic city, within Nuuksio National Park. An incredible natural site for a resort that will cater to both leisure guests and corporate meetings (Editor's note: expected in early 2028, the hotel will offer a 1,300 m² MICE space, in addition to the renovation of the 65 existing rooms and a new 160-room wing). At the same time, another Oakwood hotel is planned in Austria, near Vienna.
What continues to make Vienna one of the key destinations for your group in Europe.
P. M. - Indeed, we still have major projects in Vienna, relying on the same owner with whom we franchised the lyf and Somerset Schönbrunn and the Citadines Danube Vienna. In this context, early next year we will be adding a new lyf, very well located in the city centre on Mariahilfer Strasse (check). And two The Unlimited Collection properties and another Somerset residence are also planned.
And in France, do you have any ideas for future developments?
P. M. - We are working on several projects, but we haven't announced anything at this stage.
At the same time, the UK is also home to a good share of your projects. What are the next openings to expect?
P. M. - The United Kingdom is indeed a strong market for The Ascott Limited, our second largest market in Europe after France. In London, by the end of the month, we will have completed the rebranding of the Chelsea stadium hotel, Stamford Bridge, which we have operated hitherto under a white-label agreement as part of our partnership with the London club. This transformed property will officially become lyf Chelsea very shortly. Also in September, we will open a lyf in Glasgow, followed by another lyf in Manchester in February 2026. Both of these hotels, featuring transformed public areas and redesigned rooms, will have a MICE component. In particular, lyf Piccadilly Manchester, which features a ballroom capable of accommodating up to eight hundred people and 13 meeting rooms spread across four floors. This will serve in a way as a pilot for the lyf brand in the meetings and events segment.
Do you see this as a possible evolution for the lyf brand?
P. M. - For now, the lyf hotels we have in Paris or Frankfurt have only positioned themselves for small meetings. However, our aim is to make meetings one of the brand's key areas, alongside resorts. The lyf hotel project currently underway in Seville, within the Lagoon City leisure complex, will also have a meeting component. On the other hand, the lyf expected in central Dublin in late 2027 or early 2028 will cater primarily to individual guests.
Still across the Channel, you have another flagship project: the conversion of the Cavendish hotel in London to your Crest Collection brand. How are the works coming along?
P. M. - Work is progressing towards a planned opening at the beginning of 2028. The building has been completely gutted, with only the concrete structure retained to create a superb hotel. A true five-star establishment featuring dining and meeting rooms. The location lends itself to this, and its interior design will be by a renowned designer in England: everything points to it finding its place in this dynamic market.
Your brand The Unlimited Collection has also appeared across the Channel. What are your ambitions with this brand positioned in traditional hotel accommodation?
P. M. - Following its launch in Asia, this brand has recently seen its first developments in Europe, in Leicester, Edinburgh and Dublin, ahead of Vienna soon. We are now looking at all opportunities to expand its presence. It is a brand that corresponds to an interesting market segment, that of non-standardised upscale hospitality. Whether through management contracts or franchises, The Unlimited Collection is designed to appeal to owners who will benefit from our sales strength and distribution system while retaining the strong identity of their establishment.
Nevertheless, many hotel groups are also positioning themselves in this type of collection. Isn't the market very competitive?
P. M. - It is, but we are optimistic that The Unlimited Collection will find its place in this market. The offering of non-standardised four-star hotels really matches customer expectations, especially given that there is a very large pool of such hotels in Europe.
Are other European markets targets for the development of the Ascott group?
P. M. - The Iberian Peninsula is among the markets where we want to develop our various brands, as are the Nordic countries and Eastern Europe, where we have an ongoing project in Bucharest for the Crest Collection. What is more, we have recently had a developer based in Switzerland to cover this area
