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Acquisitions & Hotel Openings

Ascott Grows Footprint in Indonesia with the Opening of its First Property in Makassar

SINGAPORE. April 26, 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott) has opened its first property in Makassar, the 186-unit Citadines Royal Bay Makassar, which is also Ascott’s eighth operational property in Indonesia. The largest international serviced residence operator in Indonesia has plans to open five more serviced residences from this year to 2019 in Jakarta and new cities such as Bandung and Yogyakarta as well as Karawang regency.

Mr Kenneth Rogers, Ascott’s Regional General Manager for Indonesia and Australia, said: “Ascott has been managing international-class serviced residences in Indonesia for more than 20 years. Opening our first property in Makassar, Citadines Royal Bay Makassar, will enable us to extend Ascott’s reach to more customers as we provide another quality accommodation option for leisure and business travellers. A popular tourist destination and business hub for meetings and conferences, Makassar is one of the top 10 provinces in Indonesia with the highest economic growth.”

“Corporate travellers will appreciate the prime location of Citadines Royal Bay Makassar in the city centre as well as the business-friendly amenities such as meeting rooms and a business centre. Tourists visiting Makassar will also be spoilt for choice with the famous Losari Beach just a few minutes’ walk away and various shopping centres close to the serviced residence. Our Citadines serviced residences in Jakarta and Bali have been well received, with occupancy rates above 80%. With a third Citadines in Makassar, we will be able to cater to the growing demand from savvy independent travellers who want the flexibility to customise their stay experience by choosing the services they desire.”

Mr Rogers added: “Southeast Asia’s third largest economy, Indonesia, continues to offer tremendous opportunities for serviced residences. Ascott currently has a portfolio of 13 serviced residences with over 2,300 units across Indonesia. Soon after Citadines Royal Bay Makassar, we are slated to open Somerset Kencana Jakarta in June 2017, and four more properties will open across Indonesia in the next two years.”

Citadines Royal Bay Makassar is a 30-minute drive from the Sultan Hasanuddin International Airport. Residents can choose from studio apartments to studio executive suites and studio premier suites, each unit designed with stylish interiors. Guests can also unwind at the swimming pool, residents’ lounge or all-day dining restaurant. For those who love the tranquility of nature, they may also take a day trip out to explore the pristine Bira Beach or Malino Highlands.

To celebrate the opening of Citadines Royal Bay Makassar, guests can enjoy special promotional rates from IDR 500,000++ per night from now to 30 September 2017. Attractive rates are also available for a week- and month-long stays.

In Indonesia, Ascott currently manages Ascott Jakarta, Somerset Berlian, Somerset Grand Citra, Ascott Kuningan and Citadines Rasuna in Jakarta, Ascott Waterplace Surabaya as well as Citadines Kuta Beach Bali.

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be one of the leading international serviced residence owner-operators. It has over 30,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 22,000 units which are under development, making a total of more than 52,000 units in over 300 properties. The company operates three award-winning brands – Ascott, Citadines and Somerset, along with The Crest Collection and lyf. Ascott’s portfolio spans more than 100 cities across 29 countries. Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning serviced residence brands that enjoy recognition worldwide. Ascott’s achievements have been recognised internationally. Recent awards include DestinAsian Readers’ Choice Awards 2017 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2017 for ‘Best Serviced Residence Operator in China’; World Travel Awards 2016 for ‘Leading Serviced Apartment Brand’ in Asia, Europe and the Middle East; Business Traveller Asia-Pacific Awards 2016 for ‘Best Serviced Residence Brand’; Business Traveller Middle East Awards 2016 for ‘Best Serviced Apartment Company’; Business Traveller UK Awards 2016 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2016 for ‘Best Serviced Residence Brand’. For a full list of awards, please visit www.the-ascott.com/ascottlimited/awards.html.

About CapitaLand Limited

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$78 billion as at 31 December 2016, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 130 cities in over 20 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.
CapitaLand’s competitive advantage is its significant asset base and extensive market network. Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust. Visit www.capitaland.com for more information.

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.