Home > Hotels > Ascott secures three more properties with over 300 apartment units in Beijing and Hong Kong

Ascott secures three more properties with over 300 apartment units in Beijing and Hong Kong

02/15/2015| 12:26:04 PM|

The Ascott Lmtd is accelerating growth in China to more than 12,900 units in over 70 properties:

Accelerating growth in China to more than 12,900 units in over 70 properties: 

Hotel Pravo Hong Kong sits at the junction of Peking Road and Ashley Road in Tsim Sha Tsui, and is close to the bustling tourist shopping areas where Harbour City and 1881 Heritage are located.

The new properties will further reinforce Ascott’s leadership position as the largest international serviced residence owner-operator in China, with over 12,900 apartment units in 72 properties across 23 cities.

In Beijing, Ascott has secured the 208-unit Citadines Fangshan Beijing and 70-unit Changyang World Serviced Residence Beijing through its strategic alliance formed with Vanke last year. Vanke is one of the largest property developers in China and the two properties in Beijing are slated to open in 2018. Ascott also plans to open its fifth property in Hong Kong, the 92-unit Hotel Pravo Hong Kong, in March 2015.

Citadines Fangshan Beijing and Changyang World Serviced Residence Beijing are adjacent blocks in Vanke Changyang World, a large integrated development, which also comprises retail outlets and residences. Located in Fangshan District, the main shopping district, the serviced residences are close to the district government’s office, Liangxiang College Town and shopping centres such as Beijing Capital Outlets and Beijing Lianhua Supermarket. The Libafang metro station is just a few steps away, while the South Railway Station is a 30-minute drive away and Beijing’s Daxing International Airport is a 40-minute drive away.

Hotel Pravo Hong Kong sits at the junction of Peking Road and Ashley Road in Tsim Sha Tsui, and is close to the bustling tourist shopping areas where Harbour City and 1881 Heritage are located. Attractions in the vicinity include Victoria Harbour, Avenue of Stars and the Hong Kong Cultural Centre. It is also near the MTR Line, Tsim Sha Tsui Ferry Terminal and Star Ferry Pier, connecting Hong Kong to Macau and the mainland cities.

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TAGS: Ascott | China | investment
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