Ascott

CapitaLand's wholly-owned lodging business unit, The Ascott Limited, has launched a "work in residence" initiative at participating properties worldwide, to transform selected apartments into work suites. To extend its service offerings to guests, Ascott is also providing its space-as-a-service by exploring with multinational corporations, entrepreneurs and small-medium enterprises different...

Capitaland's wholly-owned lodging business unit, The Ascott, has opened a serviced residence in Osaka, Japan. The new property, Citadines Namba Osaka, offers 313 units with varied apartment types. It sits in Osaka's popular entertainment and shipping district, and is surrounded by commercial buildings, Ascott said in a media statement on Monday. It houses studio apartment, studio executive apartments...

Capitaland business unit The Ascott has opened lyf Funan Singapore – its first co-living property spanning around 121,000 square feet (sq ft) in gross floor area. The nine-storey lyf Funan property comprises 412 rooms across 279 apartments. Five apartment types ranging from 18 to 105 square metres are available, with room rates from S$150, excluding taxes, to cater to both short and long...

CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is cementing its position as the largest serviced residence operator in Singapore with a record number of openings this year as well as the signing of its first Citadines Connect business hotel in Singapore. Citadines Connect City Centre Singapore, secured under a franchise agreement, will increase Ascott’s total portfolio in...

Singapore's CapitaLand will combine Ascott Residence Trust (Ascott Reit) and Ascendas Hospitality Trust (A-HTRUST) to form the largest hospitality trust in the Asia-Pacific region, it was announced on Wednesday (Jul 3). The proposed combination will result in the combined entity becoming the eighth largest hospitality trust globally, with an asset value of S$7.6 billion, the two trusts announced in a...

Ascott has secured contracts to manage another six properties with more than 1,200 apartments in China, the serviced residence operator announced in a media release on Thursday (Jan 19). Two of the properties are in Handan and Xuzhou - two cities new to Ascott - and the rest in Changsha, Shenzhen, Tianjin and Wuhan. Citadines Sunhope e-Metro Shenzhen is slated to open this year, while Citadines...

Serviced residence operator Ascott has unveiled its newest accommodation concept, Lyf, which is "designed for and managed by millennials who wish to experience destinations as locals do", it announced on Thursday (Nov 24). In a press release, Ascott said the properties will be designed to facilitate interaction between guests, with communal spaces and co-working areas that can be easily transformed...

Serviced residence operator The Ascott has entered into a joint venture with Qatar Investment Authority (QIA) to set up a US$600 million (S$809 million) serviced residence fund. According to a press release by Ascott's parent company CapitaLand on Monday (Jul 13), the fund will have an initial focus on Asia Pacific and Europe regions for a term of 10 years with an investment period of three years....

Serviced residence operator Ascott has secured another four management agreements in China, the company said on Monday (June 23). Ascott, CapitaLand’s wholly-owned serviced residence business unit, said it will operate its first serviced residence in Taiyuan, the 170-unit Ascott Taiyuan, which is slated to open in 2018. It will also operate the 195-unit Ascott Riverside Garden Beijing and 342-unit...

Singapore serviced residence operator Ascott has secured a contract to manage its first property in Myanmar. The CapitaLand unit said on Thursday that the 153-unit Somerset Kabar Aye Yangon, slated to open in early 2018, is part of a mixed-use development that also comprises a luxury condominium. The serviced residence is a 15-minute drive from downtown Yangon and close to the Shwedagon Pagoda as...