The Ascott Limited will manage its first Citadines aparthotel in Oman.
With the new contract, the group has achieved its target of 40,000 apartment units globally ahead of its planned schedule of 2015.
Citadines Al Ghubrah Muscat will comprise studios and one-bedroom apartments with fully-equipped kitchens, living areas, and separate workspaces.
Facilities will include a swimming pool, gym, breakfast lounge, and internet corner.
Ascott’s CEO Lee Chee Koon commented: “Ascott has been expanding aggressively to achieve our milestone of 40,000 units globally ahead of schedule. This year, Ascott has so far added 17 properties in China, Malaysia, Thailand, Turkey, Vietnam, Oman and the UAE. We also opened eight properties with another 15 more to open in China, India, Indonesia, Korea, Malaysia, the Philippines, Oman and Saudi Arabia this year.
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“Such an expansive growth demands an intimate understanding of the market and an ability to establish the right local alliances. To double our portfolio to 80,000 units by 2020, our strategy is to expand through investments, management contracts, strategic alliances and franchises.”
Ascott chief corporate officer and head of GCC and Turkey said: “This will be the third Citadines in the region, one of our fastest growing brands with more 12,000 units in 81 properties and 52 cities across Asia Pacific, Europe and the Gulf region. With the fast-growing middle class and the rise of low-cost air travel, we are seeing more independent travellers who enjoy the flexibility to choose the services according to their lifestyles.”
Ascott will open its first properties in Saudi Arabia, Ascott Tahlia Jeddah, Ascott Sari Jeddah and Citadines Al Salamah Jeddah, as well as its first property in Oman, Somerset Panorama Muscat, in 2015.
Additionally, Ascott is scheduled to open Ascott Olaya Riyadh, Somerset Corniche Jeddah and Somerset Maslak Istanbul in 2016.
The group currently manages four serviced residences in the GCC – Ascott Park Place Dubai, Ascott Doha, Somerset West Bay Doha and Somerset Al Fateh Bahrain.
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