Singapore, 21 January 2019 – CapitaLand’s wholly owned lodging enterprise unit, The Ascott Restricted (Ascott), has secured contracts for one more 26 properties with over 4,600 models throughout 18 cities and 11 nations. The brand new additions enhance its portfolio to over 100,000 models. This marks a second consecutive 12 months of document progress for Ascott with the addition of over 30,000 models throughout 189 properties in 2018, making it one of many quickest rising international gamers within the lodging business. Ascott has entered the Netherlands market with the signing of Citadines Sloterdijk Station Amsterdam, a franchised property in Amsterdam. It has additionally expanded its presence in China, India, Indonesia, Philippines, Singapore, Thailand, Turkey, Vietnam, United Arab Emirates and the UK. Ascott’s international footprint now extends to 172 cities throughout 33 nations.
Mr. Kevin Goh, Ascott’s Chief Government Officer, mentioned: “Ascott has been on a robust progress trajectory, crossing over 100,000 models to shut a second 12 months of document growth. Ascott’s portfolio grew twice as quick in 2017 over 2016 and much more so in 2018, including over 30,000 models throughout 189 properties, the most important variety of models in a single 12 months. The strategic strikes we made in the previous few years have helped Ascott obtain an unprecedented progress momentum. These embrace our investments in Quest House Inns in Australasia to develop our franchise enterprise, and in Synergy International Housing, a number one company housing supplier within the U.S.; our partnership with TAUZIA Lodge Administration in Indonesia to enter the fast-growing middleclass enterprise resort section and the three way partnership with Huazhu Inns Group and CJIA Residences Group to develop our Citadines model in China.”
Mr. Goh added: “Now we have additionally cast strategic alliances with main builders in markets comparable to China, Indonesia, Philippines and Thailand that can permit us to achieve entry to a pipeline of high quality tasks, fast-track Ascott’s growth and enhance our price revenue. We opened a document variety of 27 properties with greater than 4,200 models in 2018, together with our first property in Africa, Kwarleyz Residence Accra. Ascott’s price revenue will enhance exponentially as we proceed to go on this accelerated progress path to open extra new properties. These numerous engines of progress will place Ascott in a chief place to attain our goal of 160,000 models worldwide by 2023.”
Leveraging strategic partnerships
Of the 26 newly secured properties, 4 Citadines properties – Citadines Ritan Beijing, Citadines Gubei Shanghai, Citadines Pudong Worldwide Expo Shanghai and Citadines Xujiahui Shanghai – are secured beneath Ascott’s strategic alliance with Nasdaq-listed Huaz Inns Group (Huazhu), one among China’s main resort operators, and Huazhu’s subsidiary CJIA Residences Group (CJIA). Huazhu has the third largest market share in China’s midscale resort section with over 400,000 resort rooms throughout greater than 4,000 properties. Stepping up on the partnership, Ascott will even handle Huazhu’s first property outdoors China – Ji Lodge Orchard Singapore, which Huazhu has received beneath a young by the Singapore Land Authority.As well as, Ascott has partnered with MCC Actual Property Group Co Ltd, a subsidiary of Chinese language state-owned enterprise China Metallurgical Group Company 1 (MCC), to handle two Citadines properties in Hangzhou – Citadines West Lake Cuiyuan Hangzhou and Citadines Wulin New City Hangzhou – and to collectively discover alternatives to additional broaden in main cities in China. Tapping on its alliance with Vanke, Ascott will even handle two properties in Chengdu – Ascott Tianfu Chengdu and Somerset Gaoxin Chengdu.By way of its three way partnership with Tujia, China’s largest on-line residence sharing platform, Ascott has inked Tujia Somerset Sumyip Taifu Plaza Shenzhen Serviced Residence and Tujia Somerset Honor Mansion Shijiazhuang Serviced Residence, bringing the overall to 16 Tujia Somerset serviced residences in China.
Ascott to broaden along with TAUZIA
YELLO Inns, one of many six way of life manufacturers beneath TAUZIA, caters to aspirational travellers who respect lodges with inventive designs and know-how. The upcoming 100-room YELLO Batu options constructive road artwork murals by worldwide and native artists on its façade and on the foyer and performance areas. To ship an enhanced digital expertise, YELLO Batu helps company keep linked by providing devices to surf the online, verify emails and stream leisure on the Netzone, whereas its Gaming Station is dwelling to the newest gaming consoles, offering enjoyable for folks of all ages. The resort is near widespread theme parks within the metropolis of Batu, comparable to Museum Angkut, Jawa Timur Park 1 and Jawa Timur Park 2.
Extending footprint to new cities
Along with its growth into Netherlands with the signing of Citadines Sloterdijk Station Amsterdam, Ascott can also be making its maiden entry into Goa, India. Goa is a well-liked worldwide vacationer vacation spot in addition to a conferences and conventions venue for each company and leisure travellers. The brand new Citadines Calangute Goa and Citadines Candolim Goa would be the first worldwide branded serviced residences in Goa once they open.
Citadines Metropolis Middle Rayong – Ascott’s debut in Rayong, Thailand, will cater to the company market in Map Ta Phut, Thailand’s largest industrial property and the world’s eighth largest petrochemical hub positioned within the nation’s Jap Financial Hall.
Strengthening presence in current markets
Ascott has additional bolstered its place as the most important worldwide serviced residence owneroperator in Vietnam and the Philippines by administration contracts for its first premier Ascott-branded serviced residence in Ho Chi Minh Metropolis – Ascott Centennial Saigon, and two new Citadines properties in Manila – Citadines Leviste Makati and Citadines Malate Manila.
In China, Ascott has additionally consolidated its presence by clinching contracts to handle three different serviced residences – Citadines Songjiang Shanghai, Somerset Bio-Island Guangzhou and Somerset Yongningmen Xi’an.
The corporate is deepening its presence in United Kingdom with Citadines Wembley London, its seventh property within the nation.
Within the Center East and Turkey, Ascott has secured contracts for 3 properties with over 500 models in Dubai, United Arab Emirates and Istanbul, Turkey. Citadines Nivo Istanbul and Citadines Maslak Istanbul are each beneath administration contracts whereas Citadines Metro Central Dubai is beneath a franchise settlement.Please seek advice from the Annex for the brand new properties added to Ascott’s portfolio.
About The Ascott Restricted
The Ascott Restricted is a Singapore firm that has grown to be one of many main worldwide serviced residence owner-operators. It has over 43,000 working serviced residence models in key cities of the Americas, Asia Pacific, Europe, the Center East and Africa, in addition to greater than 31,000 models that are beneath growth, making a complete of greater than 75,000 models in over 500 properties. The corporate’s manufacturers embrace Ascott, Citadines, Somerset, Quest, The Crest Assortment, and lyf. Ascott’s portfolio spansmore than 130 cities throughout over 30 nations.
Ascott, an entirely owned subsidiary of CapitaLand Restricted, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. Right this moment, the corporate boasts over 30 years of business monitor document and award-winning serviced residence manufacturers that get pleasure from recognition worldwide.
Ascott’s achievements have been recognised internationally. Latest awards embrace World Journey Awards 2018 for ‘Main Serviced House Model’ within the Center East; DestinAsian Readers’ Alternative Awards 2018 for ‘Greatest Serviced Residence Model’; TTG China Journey Awards 2018 for ‘Greatest Serviced Residence Operator in China’; World Journey Awards 2017 for ‘Main Serviced House Model’ in Asia, Europe and the Center East; Enterprise Traveller Asia-Pacific Awards 2017 for ‘Greatest Serviced Residence Model’; Enterprise Traveller UK Awards 2017 for ‘Greatest Serviced House Firm’ and Enterprise Traveller China Awards 2017 for ‘Greatest Serviced Residence Model’. For a full listing of awards, please go to www.the-ascott.com/ascottlimited/awards.html.
About CapitaLand Restricted
CapitaLand is one among Asia’s largest actual property firms. Headquartered and listed in Singapore, it’s an proprietor and supervisor of a world portfolio value greater than S$88 billion as at 31 December 2017, comprising built-in developments, buying malls, serviced residences, places of work, houses, actual property funding trusts (REITs) and funds. Current throughout greater than 150 cities in over 30 nations, the Group focuses on Singapore and China as core markets, whereas it continues to broaden in markets comparable to Vietnam and Indonesia.
CapitaLand’s aggressive benefit is its vital asset base and intensive market community. Coupled with intensive design, growth and operational capabilities, the Group develops and manages high-quality actual property services and products. It additionally has one of many largest funding administration companies in Asia and a secure of 5 REITs listed in Singapore and Malaysia – CapitaLand Mall Belief, CapitaLand Industrial Belief, Ascott Residence Belief, CapitaLand Retail China Belief and CapitaLand Malaysia Mall Belief.
Go to www.capitaland.com for extra info.