Ascott is adding over 1,000 units across six new lyf properties secured in Melbourne, Australia; Beijing, Hangzhou, Shanghai and Xi’an, China; and Manila, the Philippines.
The Ascott has signed a global agreement with Bureau Veritas to provide independent audits and certification for the hygiene and safety standards of its properties.
The Ascott has appointed Christian Desira as its new head of business development and investment for Europe. He will play an integral role in driving the company’s ambitious growth plans to reach 10,000 units in Europe and 160,000 globally by 2023.
Specialist tourism, travel and business events communications agency, Davies Tanner, has seen significant client growth in the second half of 2019, securing over £400,000 of additional fee income.
The Ascott is investing S$192 million in a freehold serviced residence in the central business district of North Sydney. The property will be financed through the Ascott Serviced Residence Global Fund, its global fund with Qatar Investment Authority.
The Ascott has opened lyf Funan Singapore, the largest co-living property in south-east Asia. It is also the first property under Ascott’s new ‘lyf’ brand, which the company says is “managed by millennials for the millennials and millennial-minded”.
The Ascott is seeking to cement its position as the largest serviced residence operator in Singapore with a record number of openings this year. At the same time the company has completed the signing of its first Citadines Connect business hotel in the city state.
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.