17 JUNE 2013

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Article from BTNews 17 JUNE 2013

Ascott Apartíhotel update

Claimed to be the world’s largest serviced residence owner-operator Ascott Ltd says it is on track to offer 40,000 apartments worldwide by 2015.  Units can be let from one night or more and are very much self-contained with comprehensively equipped kitchens, wi-fi and working/social areas.  Business travellers account for 60% of renters.

The Singapore-based company chose its Citadines Prestige Trafalgar Square property for an update on the serviced accommodation market last week.  Joanna Fisher, Regional Director Sales and Marketing UK, was in a bullish mood.

“London, where we have seven properties, continues to be a strong market”, she said.  “Mayfair’s famous Cavendish Hotel, which we acquired last year, continues to trade well and no decision will be made until early 2015 of its position in the market place”. 

In an ideal location, the Trafalgar Square property is termed ‘an Apart’hotel’ offering virtually all the facilities of a hotel, including a 24-hour reception, at room rates less than neighbouring 4-star properties.  No swimming pool, spa or gym, it has 187 air-conditioned apartments over nine floors, comprising 126 studios for 1 or 2 guests, 49 one bedroom apartments that sleep up to four guests and 12 two-bedroom duplex apartments for up to six guests.  The duplex units are in effect small flatlets. www.the-ascott.com

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