CLICK HERE TO VIEW AND ALSO PRINT OUT AS IF YOU WERE IN AN ASPIRE LOUNGE

8 MAY 2017

YOUR WORDS


Readers are invited to add their comments to any story. Click on the article to see and add.

BTN DISTRIBUTION

BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.

Index

Email this Page
Bookmark

The Business Travel News
PO Box 758
Edgware HA8 4QF
United Kingdom
+44 (0)20 8952 8383
info@btnews.co.uk
© 2021 Business Travel News Ltd.

Article from BTNews 8 MAY 2017

Citadines debuts in US

CapitaLand’s serviced residence business unit, The Ascott Ltd, has acquired the prime 125-unit Hotel Central Fifth Avenue New York and is investing nearly $50m (about £38m) in rebranding it as the first Citadines development in the US.

The acquisition follows Ascott’s recent foray into South America through franchise agreements for two Citadines serviced residences in São Paulo. 

The company’s real estate investment arm, Ascott Residence Trust, also acquired the 369-unit Sheraton Tribeca New York Hotel and the 411-key Element New York Times Square West hotel in 2016 and 2015 respectively. 

CEO Lee Chee Koon said: “The debut of our Citadines brand, our fastest-growing brand, in North America is a significant move to expand Ascott’s global network.

“Citadines has more than tripled its portfolio since we acquire the Citadines Apart’hotel chain in Europe in 2004; we have since brought the brand to Asia Pacific, Middle East and South America, and now the US. 

Lee added: “Besides strengthening our foothold in a major business catchment area of New York, we also see opportunities for Ascott to expand in other US cities such as Boston, Los Angeles, San Francisco and Washington DC.”

www.the-ascott.com 

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum


No one has commented yet, why don't you start the ball rolling?


Add your comment

First Name
Surname
Email Address
Company (Not obligatory)
Country/City
Comment
- You must be a registered subscriber using the email address entered to submit a comment, or you will be sent a confirmation email before your comment will appear.
- Your comment will be checked before appearing, which may take several working hours.
www.btnews.co.uk