Ascott announces 4 new contracts in China

The Ascott Limited is expanding rapidly in China by inking four new management contracts for 583 serviced residence units. Two of the properties are located in Shanghai and one each in Beijing and Dalian. The addition of the new properties will further reinforce Ascott’s position as the largest international serviced residence owner-operator in China with over 14,300 units in 80 properties across 24 cities.

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 seven properties in Shanghai, cementing its leadership position as the largest international serviced residence operator in the first-tier cities. 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). Located at Dalian Economic and Technological Development Zone, the new property will cater to the fast growing accommodation needs of the developing area. By introducing Citadines to the city where Ascott currently manages two Somerset-branded properties, it will offer travellers more choices for a home away from home.

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