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Ascott forms JV with Huazhu Hotels, CJIA
Published Tue, May 8, 2018 · 09:50 PM
Singapore
CAPITALAND'S serviced residence arm, The Ascott, is setting up a joint venture with Nasdaq-listed Huazhu Hotels Group and apartment rental firm CJIA Apartments Group to expand its Citadines brand in China.
With a market capitalisation of US$10.4 billion, Huazhu has the third largest market share in China's midscale hotel segment with a total portfolio of over 380,000 hotel rooms.
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