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Ascott spells out ambitious global plans

2014-09-22 08:23 Shanghai Daily Web Editor: Qin Dexing

Ascott, a leading owner-operator of international serviced residence, is aiming to more than double its global portfolio by 2020 amid robust demand from both China as well as other parts of the world, a company official said over the weekend.

The wholly owned subsidiary of Singapore's CapitaLand Ltd, one of Asia's largest real estate developers, has a portfolio of over 36,000 units in more than 20 countries and regions, Daisy Wang, general manager of the company's east China operation, said during the opening ceremony of the 169-room Ascott Midtown Suzhou, the firm's latest addition in east China.

Besides Suzhou, Ascott has properties in Shanghai, Hangzhou, Nanjing, Wuxi and Hefei in east China. Its portfolio in the region, including those under development, stands at 17 properties. The company is the largest international serviced residence owner-operator in China with over 11,600 units.

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