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News - Detailed News Story

CapitaLand's Ascott signs 26 new properties, debuts in 6 cities

17 Jul 2019 09:00

The move to sign 26 new properties puts the Ascott brand in six cities for the first time - Atyrau (Kazakhstan), Nairobi (Kenya), Yokohama (Japan), Seongnam (South Korea) and Cam Ranh and Hoi An (Vietnam).

By Vivienne Tay

CAPITALAND'S lodging business unit The Ascott has signed 26 new properties, a majority of which are under management contracts; three are on franchise agreements, it said on Monday, just after the market opened.

These properties, which will open in phases from this year to 2023, are spread across 22 cities in 11 countries and house 6,000 units in total.

Most of these properties are in the Asia-Pacific; some are in other regions such as Central Asia and Africa.

The move will put the Ascott brand in six cities for the first time: Atyrau in Kazakhstan, Nairobi in Kenya, Yokohama in Japan, Seongnam in South Korea, as well as Cam Ranh and Hoi An in Vietnam.


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Source: Business Times
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