Ascott's mission: 80,000 serviced apartments by 2020

Singapore

ASCOTT CEO Lee Chee Koon wants to more than double the group's number of serviced apartments to 80,000 by 2020, and he is banking on this hospitality-residential hybrid's growing favour with travellers.

"If we grow organically, every year we add about 4,000 units. Going just by that, by 2020 we should hit 60,000 ... but I am setting a more ambitious target for the team," Mr Lee told reporters in a recent interview.