Ascott Signs Four New Serviced Residences in China

Ascott has signed four new management contracts with 583 serviced residence units in China.

Two of the properties are located in Shanghai and one each in Beijing and Dalian.

Ascott Beijing (opening 2016), Citadines Jinxiu Shanghai (opening 2019) and Citadines Putuo Shanghai (opening 2019) will boost Ascott’s portfolio to 11 properties in Beijing and 7 properties in Shanghai.

Ascott is also bringing its Citadines brand to Dalian, a major port city in northeast China, with the management of Citadines Gugeng Dalian (opening 2016).

Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “China is Ascott’s largest market with the most number of properties given the tremendous growth opportunities for serviced residences in the country. Chinese domestic travellers now take up 30% of our business in China. In August, Ascott invested in Tujia.com International (Tujia), China’s largest online apartment sharing platform, to expand in the O2O (Offline-to-Online and Online-to-Offline) business. Our serviced residences in China under our three internationally recognised brands – Ascott, Citadines and Somerset – are now available on Tujia’s website for booking, expanding our reach to more customers online.”

Ascott Beijing

Ascott Beijing is located in the Central Business District, near to the International Trade Centre and China World shopping mall, and is surrounded by major financial institutions as well as high-grade office buildings. The property is only a five-minute walk to subway stations Lines 1 and 10, and a 15-minute drive to Beijing train station.

The serviced residence has 162 one-bedroom and two-bedroom apartments. Each apartment has a dining room and modern kitchen for guests and their family to enjoy home dining.

Ascott Beijing offers 24-hour housekeeping service, a well-equipped fitness centre, swimming pool and sauna.

Citadines Jinxiu Shanghai

Located in Shanghai Pudong New Area, Citadines Jinxiu Shanghai is part of an established integrated development that also comprises a shopping mall and offices, spanning more than three million square metres. The serviced residence is in close proximity to Shanghai Metro Lines 7 and 13, a 30-minute drive from Pudong International Airport and a 40-minute drive from Hongqiao High Speed Rail Station as well as Hongqiao Airport.

Citadines Jinxiu Shanghai will offer 142 units, ranging from studio to two-bedroom apartments.

Facilities will include a meeting room, gymnasium, yoga room and residents’ lounge.

Citadines Putuo Shanghai

Citadines Putuo Shanghai is part of a 15,000-square metre integrated development comprising high-end residences, business centres, education and other facilities. Guests can easily take a short walk to Shanghai Metro Lines 3, 4 and 7. The Nanjing West Road Central Business District and Shanghai train station are a 15-minute drive away while the Hongqiao High Speed Rail Station and Hongqiao Airport are a 45-minute drive from the property.

The serviced residence will have 154 units ranging from one-bedroom to three-bedroom apartments.

There will also be a gymnasium, yoga room, residents’ lounge, children’s play area and other facilities to ensure guests have a comfortable stay.

Citadines Gugeng Dalian

Citadines Gugeng Dalian is located in the centre of the business district in Dalian Economic and Technological Development Zone. The property is close to numerous shopping centres, office buildings, banks and restaurants.

Well served by transport, the serviced residence is a five-minute drive to the light rail station which connects to the city, a 20-minute drive to the high-speed train station, and a 35-minute drive to Dalian Zhoushuizi International Airport. Several well-known tourist attractions are located a 20-minute drive away.

Citadines Gugeng Dalian will offer 125 studio and one-bedroom apartments.

Mr Kevin Goh, Ascott’s Managing Director of North Asia, said, “To drive Ascott’s growth in China, we are accelerating our expansion across the tier-1 and 2 cities while increasing our business development in the growth cities of the central and west China. We will expand through investments, management contracts, strategic alliances and franchises. We are on track and confident of achieving Ascott’s target of 20,000 units by 2020.”