The Ascott expects to cement its position as “the largest serviced residence operator in Singapore” as it launches a record four openings in the city this year and introduces a pair of new brands in Singapore.
Ervin Yeo, Ascott’s regional general manager for Singapore, Malaysia and Indonesia, said: “We are on a strong growth trajectory, with our presence in our home market of Singapore expanding by over 60 per cent in the past two years. We have a record opening of four properties this year and another four are expected to open by 2021.”
He added: “With the government’s pro-business policies as well as exciting initiatives to rejuvenate the city and attract investors and tourists, we see strong demand for international-class lodging properties. We will further step up Ascott’s presence in Singapore through strategic acquisitions, partnerships, management contracts, franchises and leases.”
“We are expanding our product offerings in Singapore with new-to-market brands including the ‘lyf’ co-living brand and Citadines Connect, a line of business hotels with select services. Ascott is also managing Huazhu Hotels Group’s first hotel outside of China under its Ji Hotel brand.”
Citadines Connect City Centre Singapore, secured under a franchise agreement, is slated to open in 2021 as the brand’s first property in Singapore. Located a stone’s throw away from Dhoby Ghaut MRT station and Plaza Singapura near Orchard Road, Citadines Connect City Centre Singapore will increase Ascott’s Singapore portfolio to a total of 17 properties across over 3,100 units.
Meanwhile, 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.
lyf Funan Singapore, Ascott’s first property under the millennial-oriented co living brand, is located in the heart of Singapore’s Civic & Cultural District as part of the Funan integrated retail and commercial development.
Citadines Balestier Singapore sits atop a three-storey retail podium with proximity to the Novena MRT station, while Citadines Rochor Singapore is part of an integrated development, which includes the Tekka Place retail podium, and the Rochor MRT station right at its doorstep.
Ji Hotel Orchard Singapore is situated within walking distance to Dhoby Ghaut MRT Station and CapitaLand’s Plaza Singapura mall.
To meet 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.
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.