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ASCOTT OPENS ITS FIRST CITADINES APART’HOTEL IN VIETNAM

07-17-2017 04:48 PM CET | Industry, Real Estate & Construction

Press release from: CapitaLand Limited

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 offers business and leisure travellers a prime location with easy access to the Van Phong Economic Zone and local attractions, coupled with a picturesque view of the ocean and a pristine beach steps from the property.

Ms Lew Yen Ping, Ascott’s Country General Manager for Vietnam, said: “Vietnam is Ascott’s largest market in Southeast Asia with close to 5,000 units in 23 properties. Citadines Apart’hotel is our fastest growing brand globally that has won numerous accolades internationally. Our first Citadines Apart’hotel in Vietnam will cater to the increasing number of independent travellers looking for the flexibility to customise their experience by choosing the services they require. There is strong potential for Citadines in Nha Trang, a vibrant city where tourism is a key economic driver. Citadines will enable us to reach another segment of customers in Vietnam, where we have built a strong presence over the last 20 years with our established Somerset brand that appeals to guests travelling with children.”

Ms Lew added: “Vietnam is a key growth market for Ascott and we are on track to achieve our target of 7,000 units by 2020. Demand for serviced residences remains strong as more multinational companies set up offices in the country with increasing foreign direct investment and visitors. Ascott is the largest international serviced residence owner-operator in Vietnam, and of our 23 properties, 13 are slated to open over the next four years. Somerset West Point Hanoi will soon start operations and Citadines Blue Cove Danang, our biggest property globally with 550 units, is slated to open this year.”

Citadines Bayfront Nha Trang is located in the bustling Tran Phu Street where tourists will be spoilt for choice with the wide array of quaint shops, local eateries and nightlife activities. Guests who love the tranquility of nature may take a day trip out to bask on the pristine beach along Nha Trang Bay, soak in mineral springs at Thap Ba or visit the historical Po Nagar Cham Towers and Nha Trang National Oceanographic Museum. The serviced residence is a 40-minute drive from Cam Ranh International Airport, and about a 50-minute drive from the Van Phong Economic Zone, key industrial parks and sea ports.

Guests can enjoy convenience as Citadines Bayfront Nha Trang is part of a development that also comprises a podium with three storeys of retail and dining outlets. The serviced residence has 310 units of contemporary studios and one-bedroom apartments that offer expansive sea view. Its spacious apartments come with a well-equipped kitchenette as well as separate living and dining areas. For business executives, Citadines Bayfront Nha Trang offers a ballroom, business centre, and meeting rooms. The property has recreational facilities such as swimming pools, gymnasium, residents’ lounge, children’s playroom, yoga room as well as an all-day dining restaurant.

Ascott continues to see significant opportunities to expand in Vietnam. The country attracted US$19 billion in foreign direct investment in the first half of 2017, up 55% against the same period last year[1]. More than 10 million international visitors arrived in Vietnam in 2016, a 26% increase from 2015, and the Vietnam National Administration of Tourism projected 20 million visitors by 2020[2].

Besides Citadines Bayfront Nha Trang, Ascott currently operates nine other properties in Hanoi, Ho Chi Minh City and Hai Phong. It will open 13 properties with more than 3,000 units in Hanoi, Ho Chi Minh City, Binh Duong, Danang as well as Halong City between this year and 2021.

To mark the opening of Citadines Bayfront Nha Trang, guests can enjoy special promotional rates from VND 1,560,000++ per night from now till 20 December 2017. Attractive rates are also available for month-long stays.

[1]: “Vietnam’s FDI attraction soars in 1H 2017”, (Xinhuanet), 27 June 2017
[2]: “Vietnam remains key focus for hotel investor and operators”, (Hotel News Resource), 6 July 2017

About The Ascott Limited:

The Ascott Limited is a Singapore company that has grown to be one of the leading international serviced residence owner-operators. It has over 40,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 26,000 units which are under development, making a total of more than 67,000 units in over 500 properties. The company’s brands include Ascott, Citadines, Somerset, Quest, The Crest Collection and lyf. Ascott’s portfolio spans more than 120 cities across over 30 countries.

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 serviced residence brands that enjoy recognition worldwide.

Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2017 for ‘Leading Serviced Apartment Brand’ in Asia; DestinAsian Readers’ Choice Awards 2017 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2017 for ‘Best Serviced Residence Operator in China’; Business Traveller Asia-Pacific Awards 2016 for ‘Best Serviced Residence Brand’; Business Traveller Middle East Awards 2016 for ‘Best Serviced Apartment Company’; Business Traveller UK Awards 2016 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2016 for ‘Best Serviced Residence Brand’. For a full list of awards, please visit www.the-ascott.com/ascottlimited/awards.html.

About CapitaLand Limited:

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$78 billion as at 31 March 2017, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 140 cities in about 30 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.

CapitaLand’s competitive advantage is its significant asset base and extensive market network. Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.

Visit www.capitaland.com for more information.

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: joan.tanzm@capitaland.com

Chen MeiHui, Manager, Group Communications
Tel: (65) 6713 3673
Mobile: (65) 81338334
Email: chen.meihui@capitaland.com

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