Ascott signs four new Asian properties
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
Ascott, the Singapore-based serviced residence operator, has signed four new properties in the Asia Pacific, adding more than 850 units to its regional inventory.
The new management contracts will mark Ascott’s first properties in the Indonesian city of Yogyakarta and the Malaysian city of Miri, plus another serviced residence in Vietnam’s Binh Duong province and its second property in Seoul.
“This year we have grown faster than before by extending Ascott’s footprint to five new cities and adding about 4,700 units to our global network, which is almost double the units secured in the same period last year,” said Lee Chee Koon, Ascott’s CEO.
“By harnessing our wealth of knowledge and experience in managing over 250 properties across 94 cities, we are able to take advantage of economies of scale across our global footprint to reap operational efficiencies and cost savings while delivering the highest quality in services and products.”
Of the four new properties, the 149-unit Citadines Han River Seoul will be the first to welcome open in the first quarter of 2016. The remaining three properties – 308-unit Citadines Punaka Yogyakarta, 200-unit Somerset Arcadia Miri and 200-unit Citadines Central Binh Duong – are all scheduled to launch in 2018.
Ascott now operates more than 42,000 serviced apartment units in 94 cities across 26 countries.
Comments are closed.