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Ascott secures 1st franchise agreements

The Ascott Limited (Ascott), the world’s largest serviced apartment owner-operator, has secured its first franchise agreements to operate a serviced residence in Bali, Indonesia, under the Citadines brand and one in Vientiane, Laos, under the Somerset brand.

Citadines Kuta Beach Bali, scheduled to open in August 2014, will comprise a selection of 194 studios and one- and two-bedroom apartments, all of which will be well equipped and comfortable.  A typical Balinese décor throughout evokes a genuine sense of place enhanced by use of fabrics influenced by the traditional Ikat design.  Residence facilities include a meeting room and business corner, rooftop swimming pool and bar, gymnasium, launderette and a restaurant serving Indonesian and international cuisine. The residence enjoys a prime beachfront location in the vibrant Kuta district, in walking distance of a wide choice of shopping, dining and entertainment facilities.  It is also no more than a 10-minute drive from Ngurah Rai International Airport.

Somerset Vientiane, set to launch towards the end of 2014, will offer 116 spacious accommodation units ranging in size from studios to two-bedroom apartments.  Each will be a well-equipped and intelligently designed space supported by extensive business and recreational facilities including a comprehensive business centre, meeting room, tennis court, lap pool, gym, sauna, Jacuzzi, children’s playground, residents’ lounge and an al fresco breakfast area.  Located five minutes’ drive from the Chanthabouli Business District and 15 minutes’ from Wattay International Airport, the property is also close to excellent shopping, entertainment, commercial, and educational facilities; the right choice for any business or leisure guest travelling with the family.

Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “These franchise agreements mark a new milestone for Ascott. Since opening our first property in Singapore 30 years ago, Ascott has grown to be the world’s largest international serviced residence owner-operator. We have built sound hospitality management systems, an extensive sales and distribution network, strong brand recognition and loyalty globally. Franchise will be one of Ascott’s growth drivers for the future. Through the franchise agreements, we have added two more cities to our portfolio to reach 85 cities worldwide. Together with investments, management contracts and strategic alliances, franchise will bring us closer to achieving our target of 40,000 apartment units globally by 2015.”  

Ascott awarded the franchise for Citadines Kuta Beach Bali to PT Menara Permata Propertindo (Ascott is also managing Somerset Kencana Jakarta - opening 2015 - for the company).  The franchise for Somerset Vientiane has been awarded to a subsidiary of LCD Global Investments Ltd, a real estate and hospitality group listed on the Singapore stock exchange. Under this agreement, the serviced residence will be managed by Ascott for the first two years to ensure that it is refurbished to Somerset brand standards before operating under the franchise.

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