Ascott: continuing strong momentum for long-stay accommodation

With a host of developments in Asia, notably in China and Vietnam, and an expected arrival in Africa in Morocco and Senegal, the Ascott group is continuing to expand its long-stay accommodation offering worldwide.
Somerset residence opened this year in Ho Chi Minh City, Vietnam. One of the Ascott Group's many developments.
Somerset residence opened this year in Ho Chi Minh City, Vietnam. One of the Ascott Group's many developments.

Record growth despite the pandemic. The performance is remarkable and underlines the positive outlook for long-stay accommodation. The world leader in the sector, the Ascott Group, a subsidiary of Singapore property investor CapitaLand, added 30 new establishments added to its offering in the first seven months of the yearThis represents more than 8,300 residential units. This momentum is being reinforced by a number of new developments, including the launch of a single booking site for its entire range, discoverasr.com, which gives access to over 400 establishments worldwide.

Like the Discover ASR mobile application, presented in October 2020, this new site is based on the strength of the Ascott Star Rewards loyalty programmeThe number of members has grown by 400% since the programme was launched in 2019. In another development linked to Covid, the Ascott Cares health safety programme, defined last year, has been expanded in 2021 to include a solution for remote consultations and assistance. in partnership with International SOS.

As far as growth is concerned, it is Asia in particular that is driving up the Ascott Group's offering. In China, where business has already picked up, the Group signed 13 new contracts. The Ascott brand of top-of-the-range residences will be setting up in Shenzhen in 2022 in the business zone at the intersection of the Luohu and Longgang districts, then in X'ian in 2023 in the up-and-coming Xixian business district. Aimed at very long stays, the Somerset brand will open next year in Wuhan, in the Hanyang district, as well as in Shenzhen, in the high-tech district of Guanlan, and in Pudong, Shanghai's futuristic CBD.

While 2023 will see another development in the Sino-German equipment manufacturing industrial park in Shenyang, a new Somerset is expected further ahead in Shanghai, in 2026, in a duo complex located in the Jiading business district which will also house a Citadines Connect. In the meantime, thehe short-stay version of the original French brand will appear in 2023 in X'ian with an establishment of X units in the Fengdong Free Trading Park. At the same time, the Citadines brand with apart'hotels planned for 2022 in Ningbo, the Citadines OCT Harbour Ningbo, as well as in Hefei, in the sine of the economic development zone. These new establishments will bring Ascott's total presence in China to over 34,600 units in more than 170 establishments in over 40 cities.

With the Vietnam another promising playground. A country where Ascott has signed agreements for future Citadines in Hanoi and Lào Cai, but also a country where the specialist in long-stay accommodation has, above all, made a name for itself. a major project involving three of its brands These include the luxurious Crest Collection, a top-of-the-range Ascott residence and a Citadines apart'hotel. The complex is due to open in stages from 2022.

The Ascott group is extending its offer in Africa with the Somerset Almadies Dakar.
The Ascott group is extending its offer in Africa with the Somerset Almadies Dakar.

At the same time, other establishments are expected to open elsewhere in Asia, including Phnom Penh in Cambodia, Jakarta, Lampung and Lubuk Linggau in Indonesia, and Kuala Lumpur in Malaysia. However, the Singaporean group will also discover another continent, Africawith two openings expected in 2023. That same year, a Citadines Connect will open in Casablanca, Morocco, with a 60-unit property located at the intersection of Boulevard Mohammed V and Boulevard de la Résistance, two of Casablanca's main roads. The Citadines Connect Belvedere Casablanca will also be a 15-minute walk from the Casa Voyageurs high-speed train station.

The Somerset Almadies Dakar, another development expected on this continent and positioned for very long stays, will be established in 2023 at the Somerset Almadies Dakar.n one of the most prestigious districts of the Senegalese capitalLes Almadies. A 30-minute drive from Dakar station and an hour's drive from Blaise Diagne international airport, the serviced residence will offer 162 units, as well as a restaurant, residents' lounge, swimming pool, gymnasium and meeting rooms.

To date, Ascott has more than 128,000 units worldwide, and is on course to reach its target of 160,000 units by 2023. Growth could be driven by the possible arrival in Paris of the lyf coliving brandA project is well advanced on this front.