Ascott opens first Citadines serviced residences in Indonesia and Malaysia
New properties increase number of Citadines properties in operation to 59 across 31 cities in Asia Pacific and Europe
Singapore, 19 March 2013 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has expanded its international network of Citadines-branded serviced residences with the opening of the first Citadines properties in Indonesia and Malaysia. With the 153-unit Citadines Rasuna in Jakarta and 215-unit Citadines Uplands in Kuching, Ascott has a total of 59 Citadines properties in operation across 31 cities in Asia Pacific and Europe.
Mr Chong Kee Hiong, Ascott’s Chief Executive Officer, said: “Ascott acquired the Citadines chain of apart’hotels in Europe in 2002 and brought the brand to Asia Pacific in 2006. We have increasingly been getting requests from property owners for the brand, due to its popularity amongst savvy independent travellers. These travellers value urban living in prime locations and the flexibility to choose the services they require to personalise their stay experience. To cater to the demand, we will be opening 13 more Citadines in China, India, Indonesia, Malaysia, the Philippines and Germany by 2015.”
Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia and Australia, said: “Citadines Rasuna Jakarta and Citadines Uplands Kuching complement our existing Ascott and Somerset serviced residences in Indonesia and Malaysia, allowing us to reach out to a wider segment of customers. They also reinforce Ascott’s position as the largest international serviced residence owner-operator with 10 properties in each of these countries. This positions us for stronger growth in Indonesia and Malaysia, where demand for serviced residences continue to rise on the back of strong economic fundamentals and high foreign direct investments.”