The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment, today announced that it is expanding its global business development team with the appointment of Ryan Chen and Dulaphan Amatyakul as Vice Presidents of Business Development. This move is in line with Ascott’s commitment to drive asset-light growth and reiterate its confidence in the travel and hospitality landscape, as it targets to double its fee revenue to over S$500 million in the next five years. Both Ryan and Dulaphan will report to Serena Lim, Chief Growth Officer at Ascott, who was appointed earlier this year.

“As a global player with a strong network of in-market teams, one of our core strengths has always been in our ability to drive agility and market-led solutions. The appointments of Ryan and Dulaphan will support our focus on driving expansion in key markets as they work alongside our local cluster teams. Both of them bring valuable expertise from their respective fields and will play integral roles in leading region-specific plans that will not only strengthen owner engagement through tailored solutions, but also allow us to focus on strategic deals as we enter a phase of accelerated asset-light growth,” said Ms Serena Lim.

“Ascott’s business model spans various accommodation assets such as serviced residences, coliving properties, hotels and independent senior living apartments for both short and extended stays. Defining global living with our diversified portfolio of 15 brands, our approach is two-fold. Firstly, it is about driving global brands alongside travel demand and trends. Also, our regional brands enable us to go deep with robust localised solutions. I am confident that Ryan and Dulaphan will add to the strength of our global team and enhance our market agility as we work towards achieving our growth targets and delivering long-term value for our owners and our business,” added Ms Lim.

Ryan will play a key role in supporting Ascott’s business development strategies to grow the group’s current portfolio in both existing and new markets. Focusing on Japan, Korea, the Philippines, Middle East, Africa, Turkey and India, he will also take the lead in aspects of financial feasibility and deal support for new business strategies.

Ryan joins Ascott from Far East Hospitality where he expanded the business through strategic initiatives and prior to that, he was based in Bangkok as Group Director of Development of Dusit International.

A seasoned development professional, Ryan brings with him over 15 years of sectorial knowledge and experience covering markets in Asia Pacific and the Middle East including Southeast Asia and emerging cities in China.

He holds a Bachelor of Science (Real Estate), Honours from the National University of Singapore.

Based in Bangkok, Dulaphan will focus on the development of Ascott’s business strategies to drive growth in Thailand, Vietnam, Myanmar, Laos and Cambodia.

With more than 15 years of related experience in investment management, corporate and investment banking, as well as hotel operations, Dulaphan was Senior Vice President, Investment & Business Development at Conduit House Holdings (Thailand) prior to joining Ascott. There, he was involved with various regional hospitality projects in Asia Pacific and oversaw all related investment transactions for the company. He also held senior roles in asset management and hospitality firms such as MFC Asset Management PCL, Valor Hospitality Partners Asia and DTGO Corporation Limited. Dulaphan holds an MBA from the Mahidol University International College in Thailand.