Ascott Increases Expansion in Singapore with Four Property Openings by End of Year
Ascott is cementing its position as the largest serviced residence operator in Singapore with a record number of openings this year as well as the signing of its first Citadines Connect business hotel in Singapore. Citadines Connect City Centre Singapore, secured under a franchise agreement, will increase Ascott’s total portfolio in Singapore to 17 properties across over 3,100 units.
Ascott’s four property openings in Singapore this year will add 846 units to the lodging scene. The first amongst the four properties to open is lyf Funan Singapore, followed by Citadines Balestier Singapore and Ji Hotel Orchard Singapore in September, while Citadines Rochor Singapore is slated to open in December. To meet the rising demand for short-stay accommodation, lyf Funan Singapore, Ji Hotel Orchard Singapore and Citadines Rochor Singapore will have the flexibility of taking in daily stays under full hotel licenses.
lyf Funan Singapore is Southeast Asia’s largest coliving property and the world’s first property under Ascott’s ‘lyf’ coliving brand that is designed for millennials and millennial-minded. Located in the heart of Singapore’s Civic & Cultural District as part of the Funan integrated retail and commercial development, it offers a dynamic environment for social networking, collaboration and community building.
With proximity to the Novena MRT station, Citadines Balestier Singapore will be the best hospitality product in the area. Apart from sitting atop a three-storey retail podium, the immediate vicinity offers an array of shopping and dining options. It is a short drive to the Orchard Road shopping district and the Central Business District.
Ji Hotel Orchard Singapore is Huazhu Hotels Group’s first property outside China where it has more than 4,000 hotels including over 600 Ji Hotels. It has a prime location next to Orchard Road shopping belt. Within walking distance to Dhoby Ghaut MRT Station and CapitaLand’s iconic mall Plaza Singapura, it is surrounded by cultural, leisure and retail attractions as well as commercial buildings.
Citadines Rochor Singapore will be part of an integrated development that will also comprise a retail podium, Tekka Place. With the Rochor MRT station right at its doorstep and two other MRT lines within walking distance, the serviced residence is next to the burgeoning Ophir-Rochor Corridor and Beach Road area – emerging commercial hubs with large-scale integrated developments and recreational spots.
Targeted for opening in 2021, Citadines Connect City Centre Singapore is Ascott’s first Citadines Connect property in Singapore. It is a stone’s throw away from Dhoby Ghaut MRT station and Plaza Singapura, with proximity to the vibrant fashion and retail district in Orchard Road. It caters to highly mobile business travellers who appreciate convenience, fuss-free services, online connectivity and recreational experiences.
Besides Citadines Connect City Centre Singapore, Ascott is slated to open Citadines Raffles Place Singapore, lyf Farrer Park Singapore and lyf one-north Singapore in the next two years.
Other operating properties in Singapore include Ascott Orchard Singapore, Ascott Raffles Place Singapore, Citadines Fusionopolis Singapore, Citadines Mount Sophia Singapore, Somerset Bencoolen Singapore and Somerset Liang Court Singapore.
Ascott’s strong growth in Singapore is buoyed by the city-state’s increasing popularity as a top destination for travel, business and investments. Singapore is the world’s second most competitive economy given its open market and world-class infrastructure. Visitor arrivals to Singapore also hit a record high last year, with an increase of 6.7% to 18.5 million. Singapore is also ranked the world’s second best destination for expatriates due to its thriving regional economy as well as bilingual and multicultural environment.