Ascott to open first Citadines in US in 2018
THE Ascott Limited, property developer CapitaLand's wholly owned serviced residence arm, has bought a property on New York's Fifth Avenue and plans to invest "close to" US$50 million in it, CapitaLand said in a Singapore Exchange filing on Friday morning.
Ascott will renovate the operating 125-unit Hotel Central Fifth Avenue New York at 15 West 45th Street and rebrand it to Citadines Fifth Avenue New York in 2018.
This will mark Ascott's debut of its Citadines brand in the United States, CapitaLand said.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance