SIHANOUKVILLE, CAMBODIA — April 10, 2024] Steering the groundbreaking Bay of Lights coastal development, Canopy Sands Development (CSD) proudly unveils a landmark partnership with The Ascott Limited (Ascott), the acclaimed hospitality arm of CapitaLand Investment.

This collaboration heralds the management of Summer Bay Beach Club & Cabins under the Preference brand and Oakwood Bay of Lights Sihanoukville within the Bay of Lights – a 934-hectare coastal development poised to transform the financial services and tourism landscape of Sihanoukville.

The official signing ceremony took place at the newly-built Bay of Lights Business Center in Sihanoukville, with executives from both CSD and Ascott in attendance, marking a new chapter in both entities' growth and dedication to enhancing Cambodia's tourism industry.

Through this alliance, CSD and Ascott plan to introduce the pinnacle of international hotel branding to Bay of Lights, supporting both the nurturing of an international community and the setting of new industry standards in hospitality within the Summer Bay Beach Club by Preference. 

The strategic move is set to develop the highest density of international hotels per square meter in the area, offering a diverse selection of property types that cater to various customer needs.

Mr. David Richard, Managing Director of Bay of Lights Entertainment for Summer Bay, expressed his optimism at the ceremony, stating, "The partnership with Ascott aligns with our vision to elevate the hospitality and tourism landscape in Sihanoukville. We believe that by offering diverse and world-class experiences, we can attract a wider range of visitors and enhance the reputation of the Bay of Lights and Cambodia as a premier destination."

Key to their objectives is the mutually beneficial knowledge and technology transfer. Ascott's proven global systems and dedication to enriching the local skill set will align with the overarching goal to further promote the Bay of Lights, Sihanoukville, and Cambodia as a hotspot destination, leveraging Ascott's expansive membership program to reach out to millions.

"We're thrilled to be a part of the ambitious vision of Bay of Lights. By marrying our deep expertise in lodging with CSD's robust developmental strategies, we are crafting an unparalleled experience that will set new benchmarks in Cambodian hospitality," says Mr. David Cumming, Regional General Manager of Vietnam, Cambodia & Myanmar, The Ascott Limited.

In solidifying this long-term commitment, the agreement outlines plans that span service residences, hotels, villas, resorts, and the potent potential of developing a branded residence portfolio designed for the ultra-high-net-worth individuals, significantly enhancing the region's luxury accommodation offerings.

Beyond expanding Ascott's geographical footprint, this partnership signals the joint belief in the Cambodian market and the Bay of Lights' aspiration to become a premier international tourism hub.