Ascott secures Citadines property in Hangzhou

George Sell By George Sell
11 October 2013 | Updated 30 January 2017

China: The Ascott Limited has secured a contract to manage its first Citadines Apart’hotel in Hangzhou.

Scheduled to open in late 2014, the 100-unit Citadines Intime City Hangzhou will be Ascott's 11th Citadines Apart'hotel in China. Ascott says the property will "further reinforce its leadership position as the largest international serviced residence owner-operator in China with about 9,300 apartment units in 52 properties across 20 cities".

Kevin Goh, Ascott's managing director for North Asia, said: "Citadines Apart'hotel, which provides independent travellers with flexible services to suit their lifestyle needs, has been enjoying very healthy occupancy since we launched it in China in 2006. We see great potential in expanding our Citadines brand in China and have so far added three more Citadines Apart'hotels in Guangzhou, Nanjing and Hangzhou in 2013."

"With a fast growing demand for serviced residences in Hangzhou, we are confident that Citadines Intime City Hangzhou will perform well. As the capital city of Zhejiang Province, Hangzhou's economy and foreign direct investment grew respectively by an average of more than 10% and 12% annually in the last five years. Hangzhou also attracted more than 80 million business and leisure travellers in 2012. Besides Citadines Intime City Hangzhou, our premier Ascott Raffles City Hangzhou will offer top business executives exclusive living and discreet services when it opens in 2015," added Goh.

www.the-ascott.com

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