Ascott Group News
Ascott moves into Turkey with Somerset Maslak Istanbul
The Ascott has secured a contract to manage its first serviced residence in Turkey, Somerset Maslak Istanbul. Ascott’s entry into Turkey will expand the footprint of the world’s largest international serviced residence owner-operator to 90 cities across 25 countries. Slated to open in 2016, the 159-unit Somerset Maslak Istanbul has a prime location in one of Istanbul’s main business and leisure districts.
Ascott expands portfolio with new Asian properties, including first in Malaysia
The Ascott continues to expand its global presence by opening its first serviced residences in Cyberjaya, Malaysia; Sri Racha, Thailand and Hai Phong, Vietnam. Citadines DPulze Cyberjaya, Citadines Grand Central Sri Racha and Somerset Central TD Hai Phong City are the first international branded serviced residences in the respective cities. Ascott’s first foray into Malaysia’s Multimedia Super Corridor, the 203-unit Citadines DPulze Cyberjaya is its fifth property to open in Malaysia.
Ascott links with Quest for significant Australian expansion
The Ascott, the world’s largest international serviced residence owner-operator, has entered into a strategic partnership with Quest Serviced Apartments. Under the terms of the deal, Ascott expects to invest up to AUD500 million to acquire new properties that Quest will secure for its franchise in Australia over the next five years.
The Ascott reveals four new properties as ambitious expansion continues
The Ascott Limited has opened its first serviced residences in Hangzhou, China and Hamburg, Germany. In addition, the company has opened its second premier Ascott-branded serviced residence in Jakarta, Indonesia and secured a management contract for its second Ascott-branded serviced residence in Dubai which is slated to open in 2017.
The Ascott brings Citadines brand to Hamburg
The Ascott has opened a fourth apart‘hotel in Germany, with Citadines Michel Hamburg now receiving guests. This is Ascott’s fourth property in Germany, adding to its portfolio of properties in Berlin, Munich and Frankfurt.
Breaking Travel News interview: Tony Soh, chief corporate officer, The Ascott Limited
As the serviced apartment sector surges around the world, The Ascott Limited continues to set the benchmark for what is possible in the industry. With flagship property Ascott Raffles Place Singapore having been recognised as Singapore’s Leading Serviced Apartments and the parent company up for the title of World’s Leading Serviced Apartment Brand at the upcoming World Travel Awards Grand Final in Morocco, Breaking Travel News here sits down with chief corporate officer Tony Soh to discuss what sets The Ascott Limited apart from its competitors.
Ascott signs on for second Gurgaon property in New Delhi, India
The Ascott has secured a contract to manage its first Somerset-branded serviced residence in Gurgaon. Slated to open by 2019, the 174-unit Somerset Diplomatic Greens Gurgaon is Ascott’s second serviced residence in the city, after Ascott Ireo City Gurgaon which is scheduled to open in 2017.
Ascott adds Saudi accommodation capacity with Jeddah deal
The Ascott has deepened its presence in Saudi Arabia as it secured agreements to manage two more serviced residences in the vibrant port city of Jeddah. The 51-unit Citadines Sari Jeddah is slated to open in 2015 while the 135-unit Somerset Corniche Jeddah, the first Somerset-branded serviced residence in Saudi Arabia, will open in 2016.
China expansion drives Ascott forward
The Ascott has crossed its milestone of having 35,000 apartment units globally as it steps up its growth in China by securing contracts to manage four more properties with over 900 apartment units in Taiyuan, Beijing, Shanghai and Dalian. Ascott has secured its first serviced residence in Taiyuan, the 170-unit Ascott Taiyuan which is slated to open in 2018, the 195-unit Ascott Riverside Garden Beijing and 342-unit Somerset Sunland Shanghai which are both slated to open in 2016, and an operating property in Dalian which has been rebranded as a 195-unit Somerset Grand Central Dalian.
Ascott secures first franchise agreements
CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured its first franchise agreements in Vientiane, the capital city of Lao People’s Democratic Republic (Laos), and Bali, Indonesia.
Ascott Marunouchi Tokyo set for 2017 opening
The Ascott has brought its premier Ascott The Residence brand to Tokyo through a master lease agreement with Mitsubishi Estate Company, one of Japan’s largest real estate developers. The 129-unit Ascott Marunouchi Tokyo is slated to open in 2017, ahead of the 2020 Olympics to be held in the city.
Ascott adds Citadines Mercer Hong Kong to portfolio
The Ascott has acquired an operating serviced residence in Hong Kong for HK$545 million. The 55-unit property will be rebranded as Citadines Mercer Hong Kong in the third quarter of 2014. Strategically located in Sheung Wan on Hong Kong Island, Citadines Mercer Hong Kong is next to the Central Business District and is close to the trendy Soho area with many restaurants, art galleries and fashion boutiques.