Ascott Expands Portfolio with New Asian Properties, Including First In Malaysia
January 26, 2015 - Ascott continues to expand its global presence by opening its first serviced residences in Cyberjaya, Malaysia; Sri Racha, Thailand and Hai Phong, Vietnam.
Citadines DPulze Cyberjaya, Citadines Grand Central Sri Racha and Somerset Central TD Hai Phong City are the first international branded serviced residences in the respective cities.
Ascott's first foray into Malaysia's Multimedia Super Corridor, the 203-unit Citadines DPulze Cyberjaya is its fifth property to open in Malaysia. The 136-unit Citadines Grand Central Sri Racha is Ascott's tenth property in Thailand while the 132-unit Somerset Central TD Hai Phong City is its ninth property to operate in Vietnam.
Lee Chee Koon, Ascott chief executive, said: “Last year, we opened 17 properties and added 28 properties with over 4,800 apartment units to our global portfolio. “Besides expanding through acquisitions, management contracts and leases, we secured our first franchises in Vientiane and Bali. We also formed strategic alliances in China and Australia to accelerate Ascott's growth,” Lee said.
“In 2015, there will be no let up in our expansion. We are on track to achieve our target of 40,000 apartment units worldwide by end this year and aim to have 80,000 units by 2020. We will continue to expand our presence in key cities in Asia, Europe and the Gulf region to build our scale while exploring new markets with strong potential opportunities for serviced residences,” Lee added.
“Ascott is the largest international serviced residence owner-operator in Malaysia, Thailand and Vietnam. Today, we have opened our first properties in Cyberjaya, Sri Racha and Hai Phong to cater to the increasing demand from multinational companies that are setting up base in these growing cities. Globally, we have another over 50 properties to be opened, of which more than 20 are slated to open this year in China, India, Indonesia, Korea, Malaysia, Philippines, Vietnam, Oman and Saudi Arabia.”
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
