19 January 2017

The Ascott to manage six more properties in China

CapitaLand’s wholly-owned serviced residence business unit, The Ascott, has secured contracts to manage six properties with more than 1,200 apartment units in China on the back of record growth last year.

The new properties entrench Ascott’s presence in Changsha, Shenzhen, Tianjin and Wuhan, while extending its footprint to two more cities – Handan and Xuzhou.

Lee Chee Koon, Ascott’s CEO said: “Ascott crossed the 50,000-unit milestone last year, and there will be no let-up in our efforts to build up Ascott’s global scale and accelerate our growth in 2017...As we expand across our different brands to offer more accommodation choices and tailored experiences to our customers internationally, we are confident of achieving our global target of 80,000 units by 2020.”

Tan Tze Shang, Ascott’s newly appointed MD for China said: “China is Ascott’s fastest-growing and largest market. Ascott’s strategic investment in Tujia has spurred our growth in China and expanded our reach to more customers through online and offline channels. Our bookings in China have increased through Tujia’s website and we will be able to cater to the rapidly growing outbound Chinese travellers with the listing of our properties worldwide on the website by the first half of this year.

"We will also look out for investments opportunities in the first tier cities of Beijing, Shanghai, Guangzhou and Shenzhen, as well as in provincial capitals like Wuhan and Hangzhou.”

In China, Ascott is one of the leading international serviced residence owner-operators with more than 17,300 units in 96 properties across 27 cities. Of the six new serviced residences secured, Citadines Sunhope e-Metro Shenzhen, Ascott’s largest property in China, is slated to open this year. Citadines Qingshan SCPG Centre Wuhan and Tujia Somerset Jundu Tianjin are
scheduled to open next year.

Citadines Sunhope e-Metro Shenzhen, opening 2017, features 479 units. Ascott’s largest property in China is part of an integrated project with office and retail components. The serviced residence is within five minutes' walk from the metro station and a 10-minute drive from the Central Business District.

Citadines Sunhope e-Metro Shenzhen will have studio, one-bedroom and two-bedroom apartments, as well as facilities such as a fitness centre, swimming pool and breakfast lounge.

Citadines Qingshan SCPG Centre Wuhan, opening 2018, is part of an integrated development that also
houses offices and a shopping mall. The serviced residence offers guests easy access to amenities such as schools, retail outlets and hospitals. The Citadines property is located next to the Heping Park metro station, estimated to start operations in 2020, and a 15-minute drive from Wuhan Railway Station. Guests will also enjoy a bird’s eye view of Heping park.

The serviced residence will offer 110 units of studios and one-bedroom
apartments. Facilities include a fitness centre, meeting room, breakfast lounge and launderette.

The 135-unit Tujia Somerset Jundu Tianjin is scheduled to welcome guests in 2018. The property is close to metro stations, attractions, shopping malls, schools and parks. The serviced residence will have 24-hour reception and security.

Apartments are equipped with kitchenettes and laundry facilities and guests can choose from studios to three-bedroom units. The properties will also have facilities such as breakfast areas, meeting rooms, gymnasiums and a swimming pool.

Ascott Xiangjiang FFC Changsha, Citadines Yunlong Lake Xuzhou and Tujia Somerset Congtai Handan will start operations from 2019.

posted from Bloggeroid