Ascott acquires its first Silicon Valley hotel

Singapore

THE Ascott Limited (Ascott) on Thursday said it would acquire and refurbish The Domain Hotel, a freehold hotel in Silicon Valley, California, for a sum of S$81.5 million.

The aim is to capture the fast-growing demand from global technology companies and multinational corporations. The 136-unit hotel will continue to operate as it undergoes refurbishment in phases before being rebranded to Citadines Cupertino Sunnyvale in the fourth quarter of 2018.