Myanmar: Ascott has secured its first management contract for a serviced residence in Myanmar.
Due to open in early 2018, Somerset Kabar Aye in Yangon will
feature 153 apartments, including studios, one-, two- and
three-bedroom units. Each apartment will come equipped with
kitchens and separate living and dining areas, while communal
facilities will include a lounge, gym, swimming pool and children's
The building will form part of a mixed-use development on the junction of Kabar Aye Pagoda Road and Sayar San Road, 15 minutes' drive from the city centre.
The announcement comes as Ascott celebrates its 30th anniversary in 2014.
Lee Chee Koon, Ascott's CEO, said: "As Ascott celebrates 30 years of successful business, we would like to thank all our customers for their unwavering support. In 2013 alone, we had over one million stays, of which a significant percentage was from repeat guests and we look forward to their continued support. To enable our guests to enjoy the comforts of home in more destinations, we plan to open 58 properties across 12 countries by 2018, of which about 20 properties are scheduled to open this year."