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Ascott Signs Citadines in Hangzhou

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Ascott has secured a contract to manage its first Citadines Apartíhotel in Hangzhou.

 Scheduled to open in late 2014, the 100-unit Citadines Intime City Hangzhou will be Ascottís 11th Citadines Apartíhotel in China.

 The serviced residence will further reinforce Ascottís leadership position as one of the largest international serviced residence owner-operators in China with about 9,300 apartment units in 52 properties across 20 cities.

Citadines Intime City Hangzhou is located in the core area of West Hangzhou, close to three major central business districts in Hangzhou.

 The serviced residence is part of the 400,000 square metre landmark Intime City, one of the largest mixed developments in Hangzhou which comprises five Grade A office towers and a shopping mall.

 It is near restaurants, supermarkets, banks, several high-tech parks and attractions such as the Beijing-Hangzhou Grand Canal and Hangzhou Xixi National Wetland Park. Zhejiang University, Zhejiang Gongshang University, Zhejiang University Hospital and Xinhua Hospital are within a 10-minute drive away. Residents will be able to enjoy convenient access to various destinations in Hangzhou via the upcoming Metro Line 2 and Line 5.

Offering residents the feeling of home, Citadines Intime City Hangzhou will provide spacious studio, one and two-bedroom apartments with a fully-equipped kitchen and separate working and sleeping areas.

 Residents will be able to enjoy comprehensive facilities including a business centre, meeting room, laundry room, gymnasium, sauna, as well as breakfast and residentsí lounges.

Mr Kevin Goh, Ascottís Managing Director for North Asia, said, ďWith a fast growing demand for serviced residences in Hangzhou, we are confident that Citadines Intime City Hangzhou will perform well. As the capital city of Zhejiang Province, Hangzhouís economy and foreign direct investment grew respectively by an average of more than 10% and 12% annually in the last five years. Hangzhou also attracted more than 80 million business and leisure travellers in 2012. Besides Citadines Intime City Hangzhou, our premier Ascott Raffles City Hangzhou will offer top business executives exclusive living and discreet services when it opens in 2015.Ē

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