Capitaland has announced a proposed combination of its Ascott Residence Trust and Ascendas Hospitality Trust units. If completed, the deal will result in the combined entity becoming the largest hospitality trust in Asia Pacific, and the eighth largest globally.
As it gears up to open its first European property in Liverpool this summer, Quest Apartment Hotels has appointed Cycas Hospitality as its independent hotel manager for Quest Liverpool City Centre.
The Ascott has launched Citadines Connect, a line of business hotels with selected services, to widen its short-stay offerings as it continues to grow its portfolio.
CapitaLand has successfully topped out the eighth and final skyscraper of Raffles City Chongqing as the group enters the final lap of preparation works to open the highly anticipated 1.12-million-square-metre megastructure.
The Ascott has opened La Clef Champs-Élysées Paris in France, its third property under The Crest Collection. The brand is a prized selection of some of Ascott’s most prestigious and unique luxury serviced residences.
The Ascott has secured contracts for another 26 properties with over 4,600 units across 18 cities and 11 countries. The new additions boost its portfolio to over 100,000 units.
The Ascott has formed a strategic alliance with one of Indonesia’s top property developers – Ciputra Development Group. Under the alliance, Ascott will manage serviced residences to be developed by Ciputra in Indonesia and China within the next five years.
Ascott Residence Trust has acquired a prime greenfield site for S$62.4 million for its maiden development project. It will build the first co-living property in Singapore’s research and innovation business hub, one-north.
The Ascott is advancing in the fast-growing middle-class business hotel segment by investing around US$26 million for a 70 per cent stake in Tauzia Hotel Management.
With the company taking the title of Asia’s Leading Serviced Apartment Brand at the World Travel Awards, Alfred Ong, head of global operations at the Ascott Limited, tells Breaking Travel News about the company and how it feels to have won.
Lee Chee Koon will head a leadership team, including Jason Leow Juan Thong as president of Asia and retail and Lucas Loh Jen Yuh as president, China and investment management, that will guide the company through its new phase.