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Acquisitions & Hotel Openings

Ascott Opens its First Citadines Apart'Hotel in Vietnam

Citadines Bayfront Nha Trang marks the entry of Ascott's fastest growing brand and the only international-class serviced residence in the city

SINGAPORE, July 18, 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has opened its first Citadines Apart’hotel in Vietnam and expanded its footprint to a key tourism hub, Nha Trang. Citadines Bayfront Nha Trang is the first international-class serviced residence in the coastal city. It offers business and leisure travellers a prime location with easy access to the Van Phong Economic Zone and local attractions, coupled with a picturesque view of the ocean and a pristine beach steps from the property.

Ms Lew Yen Ping, Ascott’s Country General Manager for Vietnam, said: “Vietnam is Ascott’s largest market in Southeast Asia with close to 5,000 units in 23 properties. Citadines Apart’hotel is our fastest growing brand globally that has won numerous accolades internationally. Our first Citadines Apart’hotel in Vietnam will cater to the increasing number of independent travellers looking for the flexibility to customise their experience by choosing the services they require. There is strong potential for Citadines in Nha Trang, a vibrant city where tourism is a key economic driver. Citadines will enable us to reach another segment of customers in Vietnam, where we have built a strong presence over the last 20 years with our established Somerset brand that appeals to guests travelling with children.”

Ms Lew added: “Vietnam is a key growth market for Ascott and we are on track to achieve our target of 7,000 units by 2020. Demand for serviced residences remains strong as more multinational companies set up offices in the country with increasing foreign direct investment and visitors. Ascott is the largest international serviced residence owner-operator in Vietnam, and of our 23 properties, 13 are slated to open over the next four years. Somerset West Point Hanoi will soon start operations and Citadines Blue Cove Danang, our biggest property globally with 550 units, is slated to open this year.”

Citadines Bayfront Nha Trang is located in the bustling Tran Phu Street where tourists will be spoilt for choice with the wide array of quaint shops, local eateries and nightlife activities. Guests who love the tranquility of nature may take a day trip out to bask on the pristine beach along Nha Trang Bay, soak in mineral springs at Thap Ba or visit the historical Po Nagar Cham Towers and Nha Trang National Oceanographic Museum. The serviced residence is a 40-minute drive from Cam Ranh International Airport, and about a 50-minute drive from the Van Phong Economic Zone, key industrial parks and sea ports.

Guests can enjoy convenience as Citadines Bayfront Nha Trang is part of a development that also comprises a podium with three storeys of retail and dining outlets. The serviced residence has 310 units of contemporary studios and one-bedroom apartments that offer expansive sea view. Its spacious apartments come with a well-equipped kitchenette as well as separate living and dining areas. For business executives, Citadines Bayfront Nha Trang offers a ballroom, business centre, and meeting rooms. The property has recreational facilities such as swimming pools, gymnasium, residents’ lounge, children’s playroom, yoga room as well as an all-day dining restaurant.

Ascott continues to see significant opportunities to expand in Vietnam. The country attracted US$19 billion in foreign direct investment in the first half of 2017, up 55% against the same period last year[1]. More than 10 million international visitors arrived in Vietnam in 2016, a 26% increase from 2015, and the Vietnam National Administration of Tourism projected 20 million visitors by 2020[2].

Besides Citadines Bayfront Nha Trang, Ascott currently operates nine other properties in Hanoi, Ho Chi Minh City and Hai Phong. It will open 13 properties with more than 3,000 units in Hanoi, Ho Chi Minh City, Binh Duong, Danang as well as Halong City between this year and 2021.

To mark the opening of Citadines Bayfront Nha Trang, guests can enjoy special promotional rates from VND 1,560,000++ per night from now till 20 December 2017. Attractive rates are also available for month-long stays.

[1]: “Vietnam’s FDI attraction soars in 1H 2017”, (Xinhuanet), 27 June 2017 [2]: “Vietnam remains key focus for hotel investor and operators”, (Hotel News Resource), 6 July 2017

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