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Ascott Signs Citadines in Kuta, Bali

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Ascott has expanded its presence into Bali, Indonesia, by clinching a contract to manage a 174-unit serviced residence in Kuta. To be named Citadines Bali Kuta, the serviced residence is scheduled to open in 2012.

The contract, awarded by Indonesian developer PT Rudy Indopratama Sejahtera, increases Ascotts presence in Indonesia to over 1,800 serviced apartment units across nine properties in Jakarta, Surabaya and Bali.

The new serviced residence, Citadines Bali Kuta, will be located on the main arterial road of Jalan Raya Kuta, close to the beach, major shopping, dining and entertainment outlets. The five-storey serviced residence will comprise of studio, one and two-bedroom apartment units. Guests will be able to work out in the gymnasium, luxuriate in the spa and swimming pool, or sample epicurean delights at the restaurant within the property.

Mr Lim Ming Yan, Ascotts Chief Executive Officer, said, While the majority of Ascotts guests are business travellers and expatriates on extended stay, more leisure travellers are choosing to stay at our serviced residences. Bali is a world famous resort destination and over the years, it has become an increasingly attractive MICE destination. Bali continues to attract a high volume of tourist arrivals each year, which bodes well for our business in this market. With Citadines Bali Kuta, our guests can now enjoy the familiar homely environment in a renowned resort destination. Our Citadines properties are vibrant residences for the independent traveller. By having our Citadines property in lively and trendy Kuta, our guests will be in the heart of all the action in Bali.

According to the Bali Tourism Authority, in 2009, Bali received close to 2.26 million foreign visitors who stayed an average of almost nine days on the island. Tourism was estimated to have contributed US$2.7 billion in foreign exchange earnings to Bali's economy last year, this represents 42% of Indonesias tourism earnings in 2009.

Besides Citadines Bali Kuta, Ascott will open its first Citadines property in Indonesia, the Citadines Jakarta Quartier, later this year; Citadines Jakarta Rasuna in 2011 and Ascott Kuningan Jakarta in 2012.

Currently, the company has five operating serviced residences in Indonesia, namely Ascott Jakarta, Somerset Berlian, Somerset Grand Citra, and Country Woods in Jakarta as well as Somerset Surabaya Hotel & Serviced Residence.

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