ASCOTT EXPANDS GLOBAL PRESENCE WITH 26 NEW PROPERTIES ACROSS 11 COUNTRIES
To date this year, Ascott has signed contracts for over 40 properties with more than 8,000 units, an increase of over 40% in units compared with the same period in 2018. Ascott has also opened 16 properties with over 2,000 units, a 70% increase in operational units compared with 2018.
Mr Kevin Goh, Ascott’s Chief Executive Officer, said: “We are fast-expanding Ascott’s global network of properties as we continue to pursue an asset-light business model to boost our recurring fee income. While we achieve strong momentum in expanding our global lodging business through strategic alliances, management contracts, franchise and leases, we are also accelerating the number of new property openings. For the first quarter this year, our operational units have contributed S$59.7 million of fee income. We are targeting to open over 40 properties with about 8,500 units this year. For every 10,000 serviced residence units signed, we are expecting to earn approximately S$25 million in fee income annually as the properties progressively open and stabilise. Through these growth strategies, we are looking forward to the fee income boost when we achieve our target of 160,000 units worldwide by 2023.”
With the recent completion of the Ascendas-Singbridge transaction, CapitaLand through Ascott has become the sponsor of both Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST). Including the assets held under these two hospitality trusts, lodging assets under CapitaLand are valued at S$31 billion, equivalent to 25% of the Group’s total assets under management. An announcement proposing to combine the two trusts has been made on 3 July 2019.
Mr Goh said: “The combination of Ascott Reit and A-HTRUST is a win-win for both unitholders as the combined entity will be Asia Pacific’s largest hospitality trust with an asset value of S$7.6 billion, making it a lot more attractive to investors. A larger investment entity tends to trade better, as well as enjoy higher liquidity and greater cost efficiency. The combined entity will also have greater financial flexibility to seek more accretive acquisitions and value enhancements. Ascott as a sponsor can focus on growing and injecting our lodging assets into a single hospitality trust, and recycle capital into new development opportunities. At the same time, Ascott will continue to benefit and participate in the future growth of these quality assets through our sponsored stake in the trust.”
The majority of the 26 new properties are in Asia Pacific, which continues to see strong demand for lodging in tandem with lower cost of travel, improving travel infrastructure and middle-class demographics’ growing disposable income and aspiration to travel. By 2022, global lodging sales are forecast to reach US$812 billion, with Asia Pacific remaining the second largest market . International tourist arrivals continue to be driven by stronger economic growth, more affordable air travel and a better visa regime .
With these new properties, Ascott has made inroads into six new cities across Asia Pacific, Central Asia and Africa. It has forayed into Atyrau in Kazakhstan, Nairobi in Kenya, Yokohama in Japan, Seongnam in South Korea, as well as Cam Ranh and Hoi An in Vietnam. Ascott has also expanded its presence in 14 cities – Melbourne and Sydney in Australia; Chengdu, Dongguan, Guangzhou, Shanghai, Shenzhen, Wuhan and Xi’an in China; Bogor and Jambi in Indonesia; Cyberjaya in Kuala Lumpur; Cebu in the Philippines; and Bangkok in Thailand.
To cater to the burgeoning middle-class segment in the region, Ascott expanded its select-service business hotel brand Citadines Connect to Bangkok in Thailand, after Sydney in Australia and New York in the USA. Ascott also brought the hotel brands under TAUZIA, which it has a majority stake in, to countries such as Malaysia and Vietnam, beyond its predominantly Indonesia market. Ascott also signed its fifth Citadines property under its strategic alliance with Nasdaq-listed Huazhu Hotels Group (Huazhu) and Huazhu’s subsidiary CJIA Apartments Group.
In addition to expanding its global footprint, Ascott is strengthening its international marketing network with Ascott Star Rewards – the world’s first loyalty programme in the serviced residence industry to offer full flexibility to earn and redeem points. Member bookings have quickly tripled since the loyalty programme was launched in April 2019. Members of Ascott Star Rewards have a greater choice of properties across the globe as Ascott has opened 16 properties this year, with more than 30 properties scheduled to open for the rest of 2019. Ascott is also gearing up for the opening of its flagship coliving ‘lyf’ property – lyf Funan Singapore – in the city-state’s Civic and Cultural District in September 2019.
Please refer to Annex for the details of some of the new properties added to Ascott’s portfolio.
ANNEX: HIGHLIGHTS OF ASCOTT’S NEWLY SECURED PROPERTIES
Citadines Optical Valley Wuhan (Opening in 2020)
Citadines Optical Valley Wuhan is located in the Optics Valley of China, a high-tech development zone, with universities in the vicinity. It is a 20-minute drive from the Wuhan Railway Station, a 50-minute drive from Hankou Station and an hour drive from Tianhe Airport. The nearest subway station is Huanglongshan Road Station on Line 2, which is a 20-minute walk away. The property’s 160 units, which comprise mostly studio apartments, will cater to business travellers, tech professionals and tertiary students in the area. Its facilities include a gymnasium, breakfast lounge, laundry rooms, and meeting area. Citadines Optical Valley Wuhan is the fifth property secured under Ascott’s strategic alliance with Nasdaq-listed Huazhu Hotels Group (Huazhu) and Huazhu’s subsidiary CJIA Apartments Group.
Somerset Hongkou Shanghai (Tentative name) (Opening in 2020)
Somerset Hongkou Shanghai is strategically located in the business hub of Hongkou District in Shanghai. It is situated along Sichuan North Road and near the historic, cultural street at Duolun Road. The 209-unit serviced apartment, which offers one-bedroom and two-bedroom apartments, is part of an integrated development. Facilities such as restaurants, children's play areas, gymnasium, sauna steam room, and residents’ lounge are available. The serviced residence provides good views of the park. It is about 400 metres away from Metro Lines 4 and 10, and a short walk from the North Bund, People's Square and Huaihai Road Business District. It is a 10-minute drive to the Central Business District in Lujiazui. With the surrounding business districts, Somerset Hongkou Shanghai will enjoy a ready catchment of working professionals and business travellers.
Somerset Changan Dongguan (Opening in 2021)
Somerset Changan Dongguan is within walking distance from the town government in Dongguan, one of the cities in China’s Greater Bay Area, which is earmarked for transformation into a global economic powerhouse. The serviced residence is a 35-minute drive to the Shenzhen Airport, and a 25-minute drive to the Shenzhen International Convention and Exhibition Center, the world's largest convention and exhibition centre. It offers 180 studio and one-bedroom apartments, along with facilities including a restaurant, gymnasium, sauna and steam room, as well as jacuzzi.
Tujia Somerset Bao’an Shenzhen (Tentative name) (Opening in 2021)
Tujia Somerset Bao’an Shenzhen is located in the core area of Bao’an District of Shenzhen, one of the cities in China’s Greater Bay Area. More than 2,300 manufacturing companies, including over 300 multinational corporations, have set up offices or factories in the vicinity. It is part of an integrated development that also comprises Somerset Shajing Center Shenzhen. The property is near Shajing Subway Station, a 30-minute drive from Shenzhen International Airport and a 20-minute drive from Shenzhen World Exhibition and Convention Center, one of the world’s largest convention centres. The 336-unit serviced residence will offer a range of studio and one-bedroom apartments, as well as facilities such as a gymnasium and residents’ lounge.
Ascott Qinhuang Chengdu (Opening in 2022)
Ascott Qinhuang Chengdu is located within the Central Business District of Chengdu’s Tianfu New Area, which is also home to finance and commercial companies and headquarters aas well as transportation hub. The serviced residence will be connected to Metro Line 6 and adjacent to Metro Line 18, with both lines expected to be up and running by 2020. It will be a 30-minute drive to Tianfu New Airport. A 10-minute walking distance from Western China International Expo City, Ascott Qinhuang Chengdu is surrounded by Tianfu Ecological City and Luxi River Ecological Park. The serviced residence will offer 294 apartments ranging from studio to three-bedroom units, including penthouse suites. It will also be equipped with facilities such as a sky pool, gymnasium, residents’ lounge, restaurant, golf room, meeting room, multimedia room, and children’s play area.
Citadines GKC Guangzhou (Opening in 2022)
Citadines GKC Guangzhou is strategically located in the Sino-Singapore Guangzhou Knowledge City and next to the subway station Hetangxia Station. With the planned construction of the Airport Express Metro Line and the Guangzhou-Dongguan-Shenzhen Intercity Railway, Citadines GKC Guangzhou will provide easy access to the future airport, Guangzhou East Railway Station and Tianhe Central Business District. The serviced residence will offer 200 units, ranging from one- to two-bedroom apartments. It will also be equipped with a breakfast room, gymnasium, yoga room and tennis court. As a key strategic cooperation project between China and Singapore, Sino-Singapore Guangzhou Knowledge City has many prominent enterprises such as Tessa Biomedical China Headquarters, GE Biotechnology Park, Alibaba Big Data Center, China Mobile South China R&D Base, and Siemens. In addition, top international scientific research institutions including the Cancer Center of Sun Yat-sen University are nearby.
Somerset Chanba Xi’an (Opening in 2022)
Somerset Chanba Xi’an is located in Fuxin Commercial Development Zone, a 30-minute drive from the Terracotta Warriors Museum, a renowned tourist attraction. The property is surrounded by three international exhibition centres and scenic spots such as Bahe River and Xi’an Expo Park, as well as companies such as Amazon Web Services and Tencent Cloud Computing Center. It is also in the vicinity of the Eurasian Industrial Park and Xi'an Consulate General. Somerset Chanba Xi’an will offer 160 apartments, including studio, one-bedroom and two-bedroom units. It has a variety of facilities such as restaurant, gymnasium, jacuzzi and meeting rooms.
Somerset City Centre Atyrau (Opening in 2020)
Somerset City Centre Atyrau is Ascott’s first property in Atyrau, the oil and energy capital of Kazakhstan. The serviced residence has a central location on the European side of Kazakhstan, close to the Ural River and within walking distance of commercial buildings, an array of restaurants and shops, as well as Baizaar Mall. Standing at 11 storeys high, the serviced residence will provide an excellent view of the bustling Satpayev Street. Numerous domestic and international companies are also in the vicinity while Atyrau International Airport is a 15-minute drive away. The 147-unit serviced residence will comprise a mixture of studio, one-, two- and three-bedroom apartments. Facilities include a residents’ lounge, indoor swimming pool, Turkish bath, sauna, steam rooms and a gymnasium. Located at the crossroads of Europe and Asia, Atyrau is known as the oil and energy capital of Kazakhstan with global oil and gas companies including Chevron, Royal Dutch Shell, Agip KCO and ExxonMobil.
Somerset Samator Surabaya (Opening in 2020)
Somerset Samator Surabaya offers 121 units ranging from one- to three-bedroom duplex apartments. The serviced residence enjoys a prime location with proximity to high-end shopping haven Galaxy Mall and Rungkut Industrial Estate, the largest industrial estate in the city. Facilities include a residents’ lounge, swimming pool, meeting rooms, fitness centre, breakfast lounge, all-day dining, children’s playroom, and common launderette. Shuttle services are also available.
HARRIS Jambi (Opening in 2020)
Conveniently located in the heart of Jambi’s entertainment and business district, HARRIS Jambi is a 20-minute drive from Sultan Thaha Airport, and only minutes away from popular shopping and culinary destinations.
Designed for both business or leisure, the hotel features 180 spacious rooms and boasts various dining and recreational facilities such as a HARRIS Cafe, Chinese cuisine restaurant, meeting rooms, ballroom, swimming pool, spa & reflexology centre, and gymnasium.
HARRIS Bogor (Opening in 2021)
Situated in the heart of Bogor, HARRIS Bogor is only minutes away to many local attractions, making it a perfect choice to enjoy a weekend break or family trip. The hotel is a five-minute drive to Bogor Botanical Garden, a 10-minute drive to the local culinary centre and Botani Square mall at Pajajaran area, and many others.
It has a variety of facilities which encourage a healthy lifestyle. It will offer the HARRIS Cafe, spa & reflexology centre, Dino Kids Club, and swimming pool along with 144 spacious HARRIS rooms and 10 villas.
FOX Lite DPulze Cyberjaya (Opening in 2019)
Located in Cyberjaya of Malaysia, FOX Lite DPulze Cyberjaya is part of an integrated development which also comprises Ascott’s serviced residence Citadines DPulze Cyberjaya, a shopping mall, serviced office, and residential components. The 162-room hotel is expected to enjoy strong demand from the corporate and government sectors in Cyberjaya and Putrajaya, Malaysia’s IT hub and Federal Administrative Centre. Multinational corporations such as BMW, Dell, Hewlett Packard, HSBC, Motorola, Shell and Fujitsu, are located within walking distance.
Somerset Central Bundang (Opening in 2020)
Somerset Central Bundang is Ascott’s first property in Seongnam. Well-located in the Central Business District of Bundang, one of South Korea’s wealthiest and most developed areas, Somerset Central Bundang is a three-minute walk to Seohyun subway station, and a 20-minute by subway to Gangnam. The 206 units in the serviced residence comprises studio deluxe and one-bedroom premier suites. The freehold property will offer facilities such as a residents’ lounge, restaurant and function rooms. Pangyo Techno Valley, which is the Silicon Valley of Korea and an industrial complex focusing on information technology, biotech, cultural technology and fusion technology, is a 10-minute drive away. Two other Pangyo Techno Valleys in the vicinity are slated for completion in 2019 and 2022 respectively. The business district, shopping malls, international schools, medical facilities and entertainment venues, are all within walking distance or a short drive from Somerset Central Bundang. Nearby places of interest include the Central Park, Sangnoksu Square, and Seongnam Arts Center.
Citadines Connect Thonglor Bangkok (Opening in 2022)
Citadines Connect Thonglor Bangkok will be Ascott’s second Citadines Connect business hotel in Asia Pacific. Located close to the BTS Thonglor Station, the 170-unit select-service hotel comes with a rooftop garden, gymnasium and an infinity pool overlooking the city’s skyline. With easy access to shopping malls, restaurants, office buildings, trendy cafes and entertainment outlets, the hotel will cater to highly mobile corporate and leisure travellers.
Citadines Pearl Hoi An (Opening in 2019)
Nestled in the heart of Hoi An Beach Ecotourism Area, Citadines Pearl Hoi An is Ascott’s first property in Hoi An. It is a 30-minute drive to Da Nang International Airport and a 15-minute drive to Hoi An Ancient Town, a UNESCO World Heritage Site. The Danang Golf Club and top beach destinations are in the vicinity. Targeted at the leisure segment, it offers 582 units comprising hotel rooms, studio, and one- to three-bedroom serviced apartments. It also has a retail component with over 120 outlets as well as a cinema. With direct access to the beach, the property features a grand lobby, an all-day dining outlet, meeting room, fitness centre as well as an outdoor swimming pool with a pool bar.
Somerset Cam Ranh Bay (Opening in 2022)
Vertu Cam Ranh Bay (Opening in 2022)
Located in the heart of the Northern Cam Ranh Peninsula tourism area, both Somerset Cam Ranh Bay and Vertu Cam Ranh Bay are integrated in a development. Guests of both properties will get to enjoy facilities such as a Santorini themed park, gymnasium, ballroom, meeting rooms, restaurants, and swimming pools. Surrounded by an array of retail, dining and entertainment outlets, the properties are close to the Central Business District and a five-minute drive to Camh Ranh Airport.
Somerset Cam Ranh Bay is Ascott’s first serviced residence in Cam Ranh City. The 230-unit property offers a variety of studio, one-bedroom, two-bedroom and three-bedroom apartments.
On the other hand, Vertu Cam Ranh Bay offers 598 hotel rooms and suites. The property is a first Vertu-branded hotel under TAUZIA’s portfolio in Vietnam. TAUZIA is a member of Ascott with presence in Indonesia, Malaysia and Vietnam.
Issued by: The Ascott Limited Website: www.the-ascott.com
168 Robinson Road, #30-01 Capital Tower, Singapore 068912
For more information, please contact:
Joan Tan, Vice President, Group Communications
Tel: (65) 6713 2864 Mobile: (65) 9743 9503 Email: firstname.lastname@example.org
Chen MeiHui, Manager, Group Communications
Tel: (65) 6713 3676 Mobile: (65) 8133 8334 Email: email@example.com
About The Ascott Limited
The Ascott Limited is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott's portfolio spans 180 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA.
Ascott has more than 64,000 operating units and over 48,000 units under development, making a total of more than 112,000 units in over 700 properties.
The company’s serviced residence and hotel brands include Ascott, Citadines, Citadines Connect, Somerset, Quest, The Crest Collection, lyf, Préférence, Vertu, Harris, Fox, Yello and POP!.
Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide.
Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2019 for ‘Leading Serviced Apartment Brand’ in Europe and the Middle East; DestinAsian Readers’ Choice Awards 2019 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2019 for ‘Best Serviced Residence Operator in China’; World Travel Awards 2018 for ‘Leading Serviced Apartment Brand’ in Asia, Europe and the Middle East; Business Traveller Asia-Pacific Awards 2018 for ‘Best Serviced Residence Brand’; Business Traveller UK Awards 2018 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2018 for ‘Best Luxury Serviced Residence Brand’. For a full list of awards, please visit https://www.the-ascott.com/ascottlimited/awards.html.
About CapitaLand Limited
CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth over S$103 billion as at 31 March 2019. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 200 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA.
CapitaLand has one of the largest real estate investment management businesses globally. It manages eight listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. Since it pioneered REITs in Singapore with the listing of CapitaLand Mall Trust in 2002, CapitaLand’s REITs and business trusts have expanded to include Ascendas Reit, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust, CapitaLand Malaysia Mall Trust and Ascendas Hospitality Trust.
Visit www.capitaland.com for more information.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release ASCOTT EXPANDS GLOBAL PRESENCE WITH 26 NEW PROPERTIES ACROSS 11 COUNTRIES here
News-ID: 1803549 • Views: 565
More Releases from CapitaLand Limited
CapitaLand continues portfolio reconstitution strategy by divesting three retail …
CapitaLand has divested three retail malls in Japan and an office building in Korea for a total of S$448.7 million as part of its ongoing portfolio reconstitution strategy. The buyers are unrelated third parties. The agreed value of the properties was arrived on a willing-buyer and willing-seller basis. In Japan, CapitaLand has divested La Park Mizue and Vivit Minami-Funabashi in Greater Tokyo, as well as CO-OP Kobe
ASCOTT ACHIEVES RECORD HIGH SIGNINGS OF OVER 5,600 UNITS IN CHINA TO DATE DESPIT …
CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott) has secured more than 2,100 new units across 12 properties in China in the last three months. With these new units, Ascott has added a record high of more than 5,600 units across 26 properties, which represent a 60% year-on-year growth in units in China. Globally, Ascott has sealed new contracts for more than 3,700 units across 22 properties; about
ASCOTT STEPS UP EXPANSION IN SINGAPORE WITH FOUR PROPERTY OPENINGS BY END OF YEA …
Singapore, 2 September 2019 - CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is cementing its position as the largest serviced residence operator in Singapore with a record number of openings this year as well as the signing of its first Citadines Connect business hotel in Singapore. Citadines Connect City Centre Singapore, secured under a franchise agreement, will increase Ascott’s total portfolio in Singapore to 17 properties across
ASCOTT WINS EUROPE’S LEADING SERVICED APARTMENT BRAND AT WORLD TRAVEL AWARDS 2 …
Accorded seven accolades including top awards across Belgium, Germany, Spain and Turkey Singapore, 11 June 2019 – The Ascott Limited (Ascott) has won Europe’s Leading Serviced Apartment Brand 2019 for its Citadines properties for the fourth year running, along with six other awards at this year’s World Travel Awards. The annual event, held on 8th June in Madeira, Portugal, recognises leadership and excellence across all sectors of the global travel and
More Releases for Ascott
Ascott opens prestigious La Clef Champs-Elysées Paris as part of The Crest Coll …
Serviced residence offers discerning travellers extraordinary experiences with a sense of home in a building steeped in history, with distinct Haussmann-era architecture, elegant interiors and signature fragrance lounge Singapore, 7 February 2019 – CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), has opened La Clef Champs-Élysées Paris in France, its third property under The Crest Collection – a prized selection of some of Ascott’s most prestigious and unique luxury
Ascott Opens Its First Serviced Residence In Cambodia
Singapore, 7 November 2017 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has today opened its first serviced residence in Cambodia, CASA Meridian Residence, in Phnom Penh’s up-and-coming residential and retail hub of Diamond Island (Koh Pich). CASA Meridian Residence offers 75 fully-furnished residences on the top 13 floors of the 34-storey integrated development CASA by Meridian, which also comprises a high-end shopping mall, premium office spaces
ASCOTT OPENS ITS FIRST CITADINES APART’HOTEL IN VIETNAM
Citadines Bayfront Nha Trang marks the entry of Ascott’s fastest growing brand and the only international-class serviced residence in the city Singapore, 17 July 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has opened its first Citadines Apart’hotel in Vietnam and expanded its footprint to a key tourism hub, Nha Trang. Citadines Bayfront Nha Trang is the first international-class serviced residence in the coastal city. It
ASCOTT WINS BIG AT THE 2016 WORLD TRAVEL AWARDS
Amongst Ascott’s three industry accolades is the prestigious ‘Leading Serviced Apartment Brand’ award for the Middle East Singapore, 10 October 2016 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has scooped three top industry accolades at the World Travel Awards Middle East. Beating off fierce regional competition, Ascott was named this year’s ‘Leading Serviced Apartment Brand’ for the Middle East. Individual property honours also went to
ASCOTT THAILAND SUCCESSFULLY REACHES GOAL TO RAISE OVER 100K FUNDS FROM ASCOTT C …
Singapore, 7 October 2016 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), with the support of CapitaLand Hope Foundation (CHF), has recently organised its first Ascott Charity Run in Thailand. The objective of this event is to raise funds for over 500 underprivileged students at the Doi Wiangpha Pittaya School – a remote hill-tribe school in Chiang Rai province. Ascott Charity Run 2016 was held at the Lumpini
ASCOTT SETS THE BENCHMARK FOR LUXURY LIVING IN THE PHILIPPINES WITH ITS NEWLY RE …
Singapore, 26 September 2016 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has unveiled newly renovated apartments and facilities at its premier serviced residence in the Philippines, the Ascott Makati, setting the benchmark for luxury living in the heart of Makati’s Central Business District. Conveniently located within Glorietta Shopping Complex and surrounded by restaurants, entertainment and shopping malls, one of the two towers at the 362-unit Ascott