Ascott To Launch Its First Serviced Residence In Bali
Singapore, 28 July 2010 - CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has expanded its presence into Bali, Indonesia, by clinching a contract to manage a 174-unit serviced residence in Kuta. To be named Citadines Bali Kuta, the serviced residence will open in 2012.
The contract is awarded by Indonesian developer PT Rudy Indopratama Sejahtera. It increases Ascott’s presence in Indonesia to over 1,800 serviced apartment units across nine properties in Jakarta, Surabaya and Bali. Ascott is currently the largest international serviced residence owner-operator in Indonesia.
Mr Lim Ming Yan, Ascott’s Chief Executive Officer, said: "While the majority of Ascott’s guests are business travellers and expatriates on extended stay, more leisure travellers are choosing to stay at our serviced residences. Bali is a world famous resort destination and over the years, it has become an increasingly attractive MICE destination. Bali continues to attract a high volume of tourist arrivals each year, which bodes well for our business in this market. With Citadines Bali Kuta, our guests can now enjoy the familiar homely environment in a renowned resort destination. Our Citadines properties are vibrant residences for the independent traveller. By having our Citadines property in lively and trendy Kuta, our guests will be in the heart of all the action in Bali."
According to the Bali Tourism Authority, in 2009, Bali received close to 2.26 million foreign visitors who stayed an average of almost nine days on the island. Tourism was estimated to have contributed USD2.7 billion in foreign exchange earnings to Bali's economy last year. This represents 42% of Indonesia’s tourism earnings in 2009.
Mr Hartono Tanujaya, President Director of PT Rudy Indopratama Sejahtera, said: "Serviced apartments are becoming more popular as the choice for quality accommodation as they combine the space, comfort, and privacy of a private apartment with services and convenience. By tapping into Ascott’s 26 years of experience in operating serviced residences, Citadines Bali Kuta will offer the perfect home with resort living experience for global travellers."
The new serviced residence, Citadines Bali Kuta, will be located on the main arterial road of Jalan Raya Kuta, close to major shopping, dining and entertainment outlets. The five-storey serviced residence, comprising studio, one- and two-bedroom apartment units, will provide a right balance of excitement and privacy. Guests eager to brave the waves of Kuta can enjoy surfing at the famous Kuta beach within the vicinity. They can also work out in the gymnasium, luxuriate in the spa and swimming pool, or sample epicurean delights at the restaurant within the property.
Besides Citadines Bali Kuta, Ascott will open its first Citadines property in Indonesia, Citadines Jakarta Quartier, later this year; Citadines Jakarta Rasuna in 2011 and Ascott Kuningan Jakarta in 2012. Currently, the company has five operating serviced residences in Indonesia, namely Ascott Jakarta, Somerset Berlian, Somerset Grand Citra, and Country Woods in Jakarta as well as Somerset Surabaya Hotel & Serviced Residence.
About The Ascott Limited
Ascott is the world's largest international serviced residence owner-operator with over 20,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 5,000 units which are under development, making a total of more than 25,000.
The company operates three brands - Ascott, Somerset and Citadines. Its portfolio spans 69 cities in over 20 countries, 12 of which are new cities in Ascott's portfolio where its serviced residences are being developed.
Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. It also established the world's first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 26-year industry track record and serviced residence brands that enjoy recognition worldwide.
Recent awards include TTG China Travel Awards 2010 "Best Serviced Residence Operator in China", DestinAsian Readers' Choice Awards 2010 "Best Serviced Residence in Asia Pacific", TTG Travel Awards 2009 "Best Serviced Residence Operator", Business Traveller UK Awards 2009 "Best Serviced Apartment Company" and Business Traveller Asia Pacific Awards 2009 "Best Serviced Residence Brand" and Best Serviced Residence in Asia Pacific".
About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.
The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, realestate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.
The listed subsidiaries and associates of CapitaLand include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.