Unit at Tujia Somerset West Coast Haikou
THE Ascott has unveiled the Tujia Somerset brand of serviced residences, the result of a joint venture with Tujia.com, China’s largest online apartment sharing platform, equivalent to Airbnb.
Contracts for 1,005 units spread across six properties have been signed so far with two of the serviced residences – the 76-unit Tujia Somerset Baiyue Dalian and 355-unit Tujia Somerset Xinhui Shenyang – already in operation.
The other four properties are the 154-unit Tujia Somerset West Coast Haikou, 140-unit Tujia Somerset Shining City Wuxi, 102-unit Tujia Somerset Weilian Tianjin and 178-unit Tujia Somerset South Nanjing.
These new additions will further reinforce Ascott’s leadership position as the largest international serviced residence owner-operator in China, with more than 15,000 units in over 85 properties operating in 25 cities.
According to Kevin Goh, Ascott’s managing director for North Asia, Tujia Somerset will primarily cater to the burgeoning middle class in China, “focusing on overseas and local expatriates as well as corporate travellers with budgets in the region of 10,000 yuan (US$1,539) per month or lower”.
