Ascott is investing S$81.5 million to acquire
and refurbish The Domain Hotel, a freehold hotel in Silicon
hotel will continue to operate as it undergoes refurbishment in
phases before being rebranded to Citadines Cupertino Sunnyvale in
This will be Ascott’s second Citadines-branded property
in the U.S., following its acquisition of
Hotel Central Fifth
Avenue New York in May.
The property is Ascott’s fourth acquisition in the U.S. within five months,
a country where Ascott
has more than tripled last year’s portfolio to over 2,900 units in
Mr Lee Chee Koon, Ascott’s Chief Executive
Officer, said, “We are acquiring Ascott’s first property in
Silicon Valley which will allow us to invest in one of the most
desirable property markets in the U.S. Silicon Valley has a high
growth economy and is home to some of the world’s biggest
and leading technology companies and multinational corporations,
generating significant demand for accommodation. Our recent
majority-stake acquisition of Synergy Global Housing in the U.S.
will also enable Ascott to capitalise on its strong customer base
of Fortune 500 companies and major Silicon Valley technology
firms. Together with Ascott’s five properties in the U.S., we are
in a good position to capture this ready pool of corporate clients
and offer them more accommodation options in this highly
The Domain Hotel is situated along Sunnyvale’s
primary thoroughfare, El Camino Real, that leads to San Francisco
City and San Jose.
The property is surrounded by numerous renowned
corporations and startups including Apple’s new US$5 billion
headquarter campus, which will accommodate more than 12,000
employees, Google, Amazon, Adobe, Intel, Netflix, Nvidia, PayPal
and Telsa Motors.
The property attracts a good mix of both
corporate and leisure travellers. The hotel is near San Jose McEnery and Santa Clara convention
centres, and attractions such as Happy Hollow Park & Zoo, The Tech
Museum of Innovation, and The Computer History Museum.
A range of
retail, dining and entertainment outlets can also be found at
Santana Row, Westfield Valley Fair and Levi's Stadium. Tertiary
institutions in the vicinity include Stanford University, Santa
Clara University and San Jose State University.
The Domain Hotel has a range of deluxe rooms as
well as suites that provide separate living, dining and work
areas. Some units also come with private balconies.
include an outdoor heated pool, whirlpool with cabanas, bar,
restaurant, fitness centre, 24-hour business centre, meeting
rooms, grab-and-go food and beverage counter, as well as
complimentary high speed Wi-Fi, parking and shuttle service to
“Citadines is our fastest-growing
brand with close to 20,000 units in Asia Pacific, Europe and the
Middle East. By stepping up our Citadines presence in the U.S., we
will increase its reach to American travellers, our third largest
source market, and cross sell to our properties outside the U.S.
As we get closer to surpassing our target of 80,000 units globally
by 2020, we will continue to seek opportunities in the U.S. in
cities such as New York, Boston, Los Angeles, San Francisco and
Washington DC,” Mr Lee added.
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