Ascott strengthens its leadership team with the appointment of Pekka Hirvi

Ascott strengthens its leadership team with the appointment of Pekka Hirvi

Ascott will continue expanding its presence in major markets of UAE and KSA; build up its presence into prospective markets, including Egypt and Kuwait, and introduce new brands to the region

Middle East:– The Ascott Limited (Ascott), the leading international lodging owner-operator, has appointed Pekka Hirvi as Director of Business Development for the Middle East, Africa and Türkiye (MEAT). As the group pursues its regional target of an additional 5,500 units in the MEAT region by 2025, business development will remain a key focus for the world-renowned serviced residence brand.

Hirvi brings with him a wealth of experience and expertise in his new role as Director of Business Development, and will be responsible for expanding Ascott’s presence in MEAT by focusing on the major source markets that include the UAE and KSA. Also, in his role, a key focus will be to build up Ascott’s regional portfolio in new prospective markets such as Egypt and  Kuwait. Along with growing Ascott’s presence with its global flagship brands, Ascott The Residence, Somerset and Citadines, Hirvi will also be introducing the iconic co-living lifestyle brand, Lyf; the bespoke heritage brand, The Crest Collection; and the pioneer of the serviced apartments concept, Oakwood; amongst other brands.

Commenting on the announcement, Vincent Miccolis, Managing Director for Middle East, Africa, Türkiye and India at The Ascott Limited says: “We are delighted to welcome Hirvi to the Ascott Middle East leadership team. His extensive experience in business development and franchise growth will further boost our regional expansion goals. As tourism continues to boom in the GCC, we are committed to providing our owners and guests with a range of dynamic offerings and services that cater to different travel needs.”

With over 15 years of experience in the hospitality industry, Hirvi has overseen over 50 hotel management and franchise agreements in the MEAT region. Hirvi has also spearheaded Ascott’s global franchise and development strategies, expanding the Group’s global footprint through partnerships, identifying potential new markets, and developing new franchise businesses at Ascott Singapore Head Quarters.

With comprehensive experience and knowledge of the MEAT region, prior to joining The Ascott Limited, Hirvi has worked with renowned brands including Jumeirah Hotels & Resorts, Accor and more. The new appointment aligns with Ascott’s vision to capitalise on the growing demand for high-quality accommodation and cement its position as the leading international provider of serviced residences across the Middle East, Africa and Türkiye.

Hirvi commented, “The Ascott Limited is a prominently distinguished company both in the region and globally. This is an exciting time for the Group and I am thrilled to be part of the Ascott Middle East family. I look forward to a productive tenure and aim to work towards identifying new opportunities for growth that will solidify Ascott’s position as the leading hospitality brand in the region.”


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About The Ascott Limited

The Ascott Limited (Ascott) is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott's portfolio spans over 220 cities across more than 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott has over 95,000 operating units and more than 65,000 units under development, making a total of over 160,000 units across more than 900 properties.

The company’s serviced apartment, coliving and hotel brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Préférence, Fox, Harris, POP!, Vertu and Yello.

Ascott’s loyalty programme, Ascott Star Rewards, offers exclusive benefits to its members when they book directly with Ascott for their stays at its participating properties.

Ascott, a wholly owned subsidiary of CapitaLand Investment Limited, pioneered Asia Pacific’s first international-class serviced apartment with the opening of The Ascott Singapore in 1984. Today, the company boasts almost 40 years of industry track record and award-winning brands that enjoy recognition worldwide.

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About CapitaLand Investment Limited (

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 31 December 2022, CLI had S$132 billion of real estate assets under management, and S$88 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset

classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve net zero emissions by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Media Contact:
Justin Froes