Ascott’s growth continues in serviced residence business

  • Published by Ozgur Tore

Hotel Pravo Hong Kong

The Ascott Limited has secured contracts to manage three more properties with over 300 apartment units in Beijing and Hong Kong. The new properties will further reinforce Ascott’s leadership position as the largest international serviced residence owner-operator in China, with over 12,900 apartment units in 72 properties across 23 cities.

Ascott is deepening its presence in Beijing by securing the 208-unit Citadines Fangshan Beijing and 70-unit Changyang World Serviced Residence Beijing. The two properties in Beijing are slated to open in 2018. Ascott also plans to open its fifth property in Hong Kong – the 92-unit Hotel Pravo Hong Kong in March 2015.

Citadines Fangshan Beijing and Changyang World Serviced Residence Beijing are two adjacent blocks within a large integrated development, Vanke Changyang World, which also comprises retail outlets and residences. Located in the heart of the main shopping district, Fangshan District, the serviced residences are close to the district government’s office, Liangxiang College Town and shopping centres such as Beijing Capital Outlets and Beijing Lianhua Supermarket.

The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has over 26,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 12,000 units which are under development, making a total of more than 38,000 units in over 200 properties.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans 89 cities across 24 countries, 20 of which are new cities in Ascott’s portfolio where its serviced residences are being developed.


Most Read in this category since 01.01.2016

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