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Ascott plans new expansion
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ASCOTT, the world's largest owner-operator of international serviced residence, will more than double its operating portfolio in East China within the next four years, a senior company official said.
The Singapore-headquartered company, which now operates nine properties in the region spanning three distinctive brands which also include Somerset and Citadines, have secured another 12 management contracts in its development pipeline. All scheduled to open by 2019, the company's portfolio in East China will be increased to more than 4,000 units by then from the current 1,500 units, according to Daisy Wang, area general manager of east China, Ascott.
These new properties are located in cities including Shanghai, Suzhou, Hangzhou, Nanjing and Wuxi, the company said.
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