Home » Business » Real Estate
Ascott to fortify brands to grow quickly in China
Print Edition
ASCOTT, a leading owner-operator of international serviced residences, will accelerate its expansion in China this year by consolidating its existing and new brands in first and key second-tier cities.
The wholly owned subsidiary of Singapore’s CapitaLand Ltd, one of Asia’s largest real estate developers, aims to add at least 4,600 apartments in China this year, Tan Tze Shang, managing director of Ascott China, said in Shanghai.
“We signed management contracts for about 3,600 units of services residence last year in China, of which 2,000 were under the joint venture Tujia Somerset brand and the rest were under our three award-winning brands of Ascott, Citadines and Somerset,” Tan said during the debut of Ascott Global Roadshow yesterday.
“For this year, we aim to outperform 2016 by at least 1,000 units and will also bring one of our new brands to offer more options for our clients in China where demand for quality accommodation is robust.”
The company plans to introduce Lyf, a brand featuring small rooms but large public spaces so that residents can socialize and interact, in the country this year, probably in gateway cities first such as Shanghai, Beijing, Guangzhou and Shenzhen.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
