Ascott signs first French franchise agreement

George Sell By George Sell
1 week ago | Updated 1 week ago

France: The Ascott Limited has signed its first franchise contract in France, for Citadines aparthotels in Strasbourg and Nantes.

The franchise agreement was signed with Aegide Domitys group, a "leading provider of serviced apartments for the elder generation", with the two Citadines branded residences located in Strasbourg (166 units) and Nantes (71 units), scheduled to open in 2019. 

Ascott says the move is part of its ongoing development strategy, which is based on investment, strategic partnerships and management contracts, in addition to franchising so the company can expand rapidly in its target markets.

"We have over 30 years' experience in the serviced residence market in France where Citadines started its operations. Citadines is a very well established and well-known brand there, with 25 serviced residences and over 2,800 apartments. As a leading serviced apartment owner and operator, we are keen to engage in ongoing collaboration with potential business partners. We see this development as a win-win partnership for both parties, not only leveraging the success of our brands to grow exponentially, but to also to share our success with entrepreneurs and companies," said Alfred Ong, Ascott's managing director for Europe. 

Head of franchise Europe at Ascott, Frédéric Carré, added: "Nantes, France's sixth largest city is a new destination for Citadines. In Strasbourg we already have a property in the city centre performing well and having another property in a different location in the city will complement each other as they serve different customer segmentations. Those two regional capitals are both attractive for business and leisure guests. Having new properties there will give a further impulse to the Citadines network". 

As developer and operator, Domitys will manage the construction, the operations, the pricing policy and local marketing of both residences. 

"In addition to the strong growth of its Domitys residences portfolio, the Aegide group is now positioned to seize new opportunities and create aparthotels close to its senior serviced residences. We have great confidence in this partnership with Ascott, a group which we consider to be one of the global leaders in serviced residences," said Frédéric Walther, general manager of Aegide Domitys group. 

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