Ascott to manage 8 new serviced residences in China
It expects to reach its target of 20,000 apartment units in the country by 2020
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CAPITALAND'S serviced residence arm The Ascott Limited (Ascott) has inked contracts to manage eight new serviced residences in China's high growth cities of Beijing, Chongqing, Haikou, Hangzhou, Shanghai and Xiamen through its Ascott, Citadines and Tujia Somerset brands.
Of these properties, Tujia Somerset Palm Springs Chongqing is already operational and the other seven - Ascott Central Haikou, Citadines Taoyuanju Chongqing, Citadines Xixi Wetland Hangzhou and four more Tujia Somerset properties - are slated to open from next year to 2020.
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