Travel Industry News at TravelNewsAsia.com since 1997. Interviews, podcasts, videos, pictures and more
Thu, 12 April 2018

Ascott Partners Leading Developers in China, Japan and Thailand

Ascott is accelerating its expansion in Asia by forging strategic partnerships with leading developers in China, Japan and Thailand to manage apartments currently under development as well as future projects.

In China, Ascott has partnered specialty township developer, Riverside Group, to launch serviced residences in Zhejiang, Chongqing and future riverside themed towns in other key cities. This strategic partnership will start with two serviced residences with a total of 350 units in Zhejiang and Chongqing. It follows Ascotts contract with Riverside Group to manage the 190-unit Ascott Riverside Garden Beijing which opened in November last year.

In Japan, Ascott has entered a business cooperation with the listed Japanese real estate company, NTT Urban Development Corporation a subsidiary of Nippon Telegraph and Telephone Corporation, to jointly explore serviced residence opportunities in Japan and are currently working on two projects in Fukuoka and Yokohama.

(From left) Mr Chanond Ruangkritya, President and CEO of Ananda Development with Mr Kevin Goh, CEO of Ascott. Click to enlarge.

In Thailand, one of the countrys top listed developers, Ananda Development, has expanded into the serviced residence business through its strategic alliance with Ascott. The first four properties under the collaboration Somerset Rama 9 Bangkok, Ascott Embassy Sathorn Bangkok, Ascott Thonglor Bangkok and one more property in Sukhumvit 8 will offer close to 1,500 apartment units in Bangkok when they open between 2020 and 2021.

Mr Kevin Goh, Ascotts Chief Executive Officer, said, Forming strategic cooperation with well-established developers is one of Ascotts key strategies for growth. From Singapore, to Australia, China, Indonesia, Japan and the Middle East, the alliances we have forged allow us to gain access to a variety of large scale, quality projects to fast-track Ascotts expansion and broaden our reach to even more gateway cities. Having some of the biggest industry players choose to partner us speaks volume of Ascotts reputation and expertise in managing award-winning serviced residences globally for over 30 years.

In addition to the 1,607 units that expanded its portfolio in January and February, Ascott is adding management and lease agreements for another 14 properties with about 3,400 apartment units across 10 cities in China, Japan, Thailand and Indonesia this quarter. This includes a lease agreement with department store chain, Takashimaya Company, Limited, to operate the first Citadines Aparthotel in Osaka.

Slated to progressively open from this year to 2021, these newly signed properties will mark Ascotts maiden entry into Dongguan and Huizhou in Chinas fast-developing Greater Bay Area, as well as deepen Ascotts presence in the Chinese cities of Dalian, Haikou, Hong Kong, Nantong and Shanghai, Osaka in Japan, Bangkok in Thailand, and Bandung in Indonesia.

Mr Goh, said, Serviced residences are in high demand in many parts of the world. In the first quarter of 2018, we have added over 5,000 units to Ascotts portfolio more than 300% growth on a year-on-year basis. China remains our top source market globally with the Chinese constituting almost a quarter of our customers and growing. Our latest expansion with eight new contracts across seven cities in China will further boost Ascotts dominance in the market.

With the eight new additions in China, Ascott will have over 21,500 units in 118 properties across 33 cities in the country. The newly secured properties are Ascott Songshan Lake Dongguan, Citadines Songshan Lake Dongguan, Citadines Putuo Xiangyi Shanghai, Somerset Golden Pebble Winery Dalian, Tujia Somerset Centreville Haikou Serviced Residence, Tujia Somerset Jinshan Lake Huizhou Serviced Residence, Harmony City Elite Apartment Nantong and Hotel Purple Hong Kong.

In Japan, Ascott has more than 3,100 units in 24 properties across eight cities. In addition to the upcoming first Citadines Aparthotel in Osaka, Ascott operates seven other serviced residences and 16 properties for corporate lease in the country. According to the latest JETRO Invest Japan Report, Japans net inflows of foreign direct investment reached a record high1 and demand for serviced residences is likely to grow with the governments proactive efforts to attract investment.

Ascott is the largest international serviced residence owner-operator in Thailand and Indonesia. In Thailand, Ascott has 21 properties offering over 4,300 units across Bangkok, Pattaya and Sri Racha.

In Indonesia, with the addition of Somerset Asia Afrika Bandung that is opening in 2019, Ascott will have over 3,000 units in 17 properties across seven cities.

Ascott has a global target of reaching 80,000 units this year, and to double its portfolio to 160,000 units by 2023.

Headlines: Marriott Signs Ritz-Carlton Hotel in Wuhan, China  China Airlines to Launch Flights to Danang, Vietnam  New Features Added to myCWT Platform  Scoot Continues to Expand Regional Network  SITA and Versa Networks Launch SD-WAN Solution Connect Go  Air Canada to Launch Daily Halifax-Newark and Vancouver-Houston Flights  Hawaiian Partners Barclays US to Launch Two Free Checked Bags Promotion  US Army Orders Two More Boeing CH-47F Block II Chinook Helicopters  Scoot and Singapore Airlines Unveil Network Expansion Plans  Dusit Opens Third Hotel in Qatar  Korean Air Signs SAF-Related MOU with Shell  AirAsia Integrates Facial Recognition System with Malaysia Airports' EZPaz Technology at klia2  Air Charter Scotland Receives Approval to Offer Full CAMO Services in UK and EU  IHG Signs Two Hotels Near Stockholm Arlanda Airport in Sweden  Rolex Phang Chyuan Shei Joins Anantara Desaru Coast as Director - People and Culture  Delta and LATAM Receive JV Approval from US Department of Transportation  All-Suite JW Marriott Resort Opens in Khao Lak, Thailand  Asia Pacific Airlines Carried 13.1 Million Int. Passengers in August; RPK Up 501.3%  Singapore Formula 1 Grand Prix Attracts Record Crowd; Dates Set for 2023  Relief Package at Hong Kong Airport Extended Until End-November  Four Seasons Hotel Kuwait at Burj Alshaya Appoints Martin Kipping as GM  Cebu Pacific Operates First Passenger Flight Powered by SAF; Signs MOU with Shell  Marriott Signs Edition Hotel on Lake Como, Italy  New Zealand Millennium Cup Opens Race to Multihulls of 18+ Metres  British Airways to Resume Double Daily Flights to Singapore in November  Four Seasons to Launch Fleet of Luxury Yachts  China Airlines Signs Firm Order for 16 Boeing 787-9 Dreamliners  Virgin Atlantic Updates Gender Identity Policy  ESV Uses Digital Bridge Forum to Showcase Experimental Space Module  WestJet Orders 42 Boeing 737-10s  Bombardier Celebrates Grand Opening of Melbourne Service Centre  Huawei and Emirates Explore Ways to Expand Partnership  Worldwide Flight Services to Become Wholly Owned Subsidiary of SATS  China Airlines Unveils A321neo Pikachu Jet  Virgin Atlantic to Join SkyTeam in 2023  Royal Thai Navy Orders Hermes 900 Maritime Unmanned Aircraft  British Airways to Launch Wine Flyer in October  Eviation Alice Completes Maiden Flight  Clarins and Groupe GM Relaunch Eau Dynamisante Hotel Line  Boeing Partners Red 6 to Advance Fighter Pilot Training with Augmented Reality  Minor Signs Tivoli Resort in Tenerife  Boeing Delivers 100th 737-800 BCF to AerCap  Middle East Airlines Enhances Operations at BEY with SITA's Cloud-Based Technology  Onyx Hospitality Appoints Sukamal Mondal as Area General Manager  Oana Savu Joins Dophop as Chief Strategy Officer  MotoGP Stars Learn Muay Thai Ahead of Thailand Grand Prix in Buriram (บุรีรัมย์)  Hertz and bp to Develop Network of EV Charging Stations in USA  IATA and Etihad to Trial CO2 Emissions Calculator for Cargo Flights  British and Qatar Airways Add 42 Countries to Shared Network  Cross Signs Riverfront Property in Bangkok, Thailand  Mandarin Oriental Palace Opens in Luzern, Switzerland  Anantara Adds 400-Metre Zipline to Layan Active Zone in Phuket  easyJet to Upgrade Operations with DPO and CDA  Air Canada Welcomes Decision to Lift Mask, Testing and ArriveCan Requirements  Rolls-Royce Delivers 1,000th BR725 Engine to Gulfstream  IHG Refreshes Restaurant and Integrated Wellness Experience of Even Hotels Brand  Hotels: ADR, OR and RevPAR Trending Higher in All Asia Pacific Markets  Xiamen Airlines Orders 40 Airbus A320neo Family Aircraft  New Japanese Airline Signs 10-Year GMA with ATR  Thai Airways Unveils Winter 22/23 Flight Plan  Marriott Unveils Plan to Add 5,000+ Rooms in Middle East by End-2023  DoubleTree by Hilton Phuket Banthai Appoints Christoph Weidemann as GM  Embraer and GMV Sign MOU for A-29 Super Tucano Aircraft  French Navy Takes Delivery of First of Six H160s in SAR Configuration  IHG Signs Second Hotel Indigo in Jeddah, Saudi Arabia  CTG Hotel Appoints James Kim as COO  Ascott to Refresh and Expand Citadines Aparthotel Brand  Martin Becquart Joins Phnom Penh's Raffles Hotel Le Royal as Executive Chef  Sihot Appoints Diogo Llorente as COO and Michael Wernet as Head of Operations  Royal Huisman Unveils Wing 100 Megayacht  WTTC Publishes Report: Nature Positive Travel & Tourism  Airbus Tests New Outsized Cargo Loading System and Jig; Verification Imminent  Dusit Central Park Bangkok to Feature 11,200-sqm Roof Park Sky Garden  ANA Confirmed as Launch Customer for Boeing's Insight Accelerator  Premium Seating on American's Long-Haul Fleet to Grow 45+% by 2026  Embraer Buying Minority Stake in XMobots  Boeing Forecasts Airlines in Middle East to Need 2,980 New Airplanes Through 2041  SITA Launches Innovative Partnership Program  Airbus and Ecocopter to Work Together on UAM Market in Latin America  Bombardier's Challenger 3500 Business Jet Enters into Service  US-Bangla Airlines Signs Distribution Agreement with Sabre  Qatar Airways to Reintroduce A380 on Flights to Perth, Australia  China Airlines to Increase Flights to Philippines and Thailand  Emirates Partners United Airlines  Vakkaru Maldives Resort Appoints Diana Vergara as Resident Marine Biologist  Doha Hosting Global Aviation Industry World Financial Symposium  AirAsia Launches 'Biggest Ever Free Seats Promotion'  CWT Joins Global Sustainable Tourism Council  The Food School Bangkok to Open in October  IHG Signs Holiday Inn's First Urban Beachfront Resort in Indonesia  Singapore Tourism Board Starts Issuing Travel Agent Licences Electronically  Qatar Airways Enhances Premium Travel Experience at London Heathrow T4  Emma Raducanu to Host Tennis Clinic in Maldives  Emirates Appoints APG as GSA for Argentina  Shell Appoints Wael Sawan as CEO  Apollo Funds Commit Up To US$1.5 Billion To Embraer Customer Financing Agreement  Passenger Volume Continues to Rise at Hong Kong Airport  Marriott Opens Adults-Only, All-Inclusive Luxury Resort in Dominican Republic  Minor Rebrands Luxury Hotel in Amsterdam  Emirates Investing Over US$350m on Inflight Entertainment System for A350s  Asia Pacific Airlines Report 528.8% Rise in July Traffic  U.S. Air Force Takes Delivery of Bombardier Global 6000 Aircraft  Brazilian Armed Forces to Acquire 27 Airbus H125 Helicopters  Boeing Completes Construction of Advanced Composite Fabrication Center in Arizona  Marriott Signs First Property in Papua New Guinea  Emirates Offers First Class Passengers Dom Pérignon 2003 Plénitude 2 on Select Flights  Pictures from Miss International Queen 2022 in Pattaya, Thailand  HD Video Interviews from Miss International Queen 2022 in Pattaya, Thailand  Is Siam Seaplane Ready for Take Off? Interview with Dennis Keller, Chief Business Officer  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS Feed - Travel Industry News  Ticker - Travel Industry News  Travel Industry News Archives  Travel Trade Shows  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

See latest HD Video Interviews, Podcasts and other news regarding: Ascott.

Subscribe to our Travel Industry News RSS Feed Travel Industry News RSS Feed from TravelNewsAsia.com. To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

     
Advertising
Advertising
Copyright © 1997-2022 TravelNewsAsia.com