Ascott Limited has achieved record-breaking growth this year by securing more than 10,000 apartment units in 51 properties, bringing the company’s portfolio to more than 52,000 units globally, according to a press statement.
Ascott chief executive officer Lee Chee Koon said: “With these latest additions, Ascott has as at today over 52,000 units in our portfolio. We secured a record over 10,000 units in 2016, making this Ascott’s highest increase in inventory count in a single year. Of these new units, 90% are located in gateway cities across the Asia Pacific and the Middle East, including countries such as China, India, Indonesia, Japan, Malaysia, Singapore, Vietnam and Saudi Arabia. This year, Ascott has also opened 20 properties with more than 3,700 units, our fastest pace ever. As more of the newly signed properties come into operation, we can expect a further boost to our management fee income.”
Chee Koon added: “As more property owners see the value of having Ascott manage their serviced residences, we are actively looking to expand through strategic alliances, management contracts, franchises, and also to seize acquisition opportunities. Seeking partnerships with new economy leaders will also be central to Ascott’s growth as we march towards our global target of 80,000 units by 2020. Such partnerships have given us significant first-mover advantage to establish a strong presence online to complement our offline expertise in managing properties. For example, our sales on Singles’ Day through our partnership with Fliggy (Alitrip) went up six times last Friday, our highest number of room nights booked online in a single day in China.”
Ascott’s latest additions are 10 new management contracts in Hanoi and Halong City in Vietnam; Phnom Penh, Cambodia; Bangkok, Thailand; Metro Manila and Cebu in the Philippines. This comes after Ascott’s opening of Metropole Bangkok, Asia’s first unique luxury serviced residence under The Crest Collection.
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