Citadines network more than triples to almost 16,000 units in 64 cities since its acquisition in 2004

(TRAVPR.COM) SOUTH KOREA - August 5th, 2016 - CapitaLand’s wholly owned serviced residence business, The Ascott Limited (Ascott), has opened its first Citadines-branded property in Korea’s capital, Citadines Han River Seoul. The opening of the 149-unit Citadines Han River Seoul marks Ascott’s continued expansion in South Korea, with more than 1,000 units in operation including the 410-unit Somerset Palace Seoul and 468-unit Citadines Haeundae Busan.

Mr Max Phillips, Ascott’s Country General Manager for Korea, said: “Citadines Han River Seoul is our second Citadines-branded serviced residence in South Korea, catering to the growing number of independent travellers who prefer the flexibility to choose the services according to their lifestyles. Since Ascott’s acquisition of the Citadines Apart’hotel chain in 2004, Citadines has become one of our fastest growing brands and its portfolio has more than tripled from the initial 5,100 units to almost 16,000 units in 64 cities across Asia Pacific, Europe and the Middle East.”

Situated in Yeongdeungpo-gu, close to the Yeouido and Gangnam financial districts, Citadines Han River Seoul is the perfect accommodation from which to experience the vibrant city life with easy access to major business complexes, entertainment venues and shopping centres. With the opening of Citadines Han River Seoul, Ascott now manages more than 47,000 units in over 290 properties around the world, of which more than 29,000 units are operational.

Modern conveniences and vibrant urban life

With a view of the Han River, Citadines Han River Seoul has an ideal location for business and leisure travellers. The serviced residence provides guests with the flexibility to choose from a menu of services such as laundry and dry-cleaning. Conveniently located near Seonyudo metro station, Citadines Han River is well connected to downtown and suburbs through the Olympic-daero, Gangbyeonbuk-ro and Gyeongin highways. The property is also near to a wide array of tourist attractions, department stores and entertainment outlets, including one of Seoul’s largest shopping malls, Times Square, Seonyudo Park and Lotte Sweet Factory.

Stylish yet homely interiors

Guests can choose from studio apartments of three sizes: Studio, Studio Deluxe and Studio Executive. Each apartment is tastefully furnished with stylish interiors, a comfortable living area, bedroom and fully-equipped kitchen. Citadines Han River Seoul also has a fitness corner, a meeting room and a rooftop garden for guests to unwind.

Opening promotion

To celebrate the opening of Citadines Han River Seoul, Ascott is now offering 20% off its Best Flexible Rate with late check-out for stays from now till 31 December 2016. For more information, please visit: http://www2.citadines.com/en/promotion/cluster.html?did=73544. Book through Ascott’s website for Best Rate Guarantee and sign up as an Ascott Online Advantage member to enjoy an additional 10% off.  

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has over 29,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 17,000 units which are under development, making a total of more than 47,000 units in over 290 properties.

The company operates three award-winning brands – Ascott, Citadines and Somerset. Its portfolio spans more than 100 cities across 27 countries.

Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts over 30 years of industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2015 for ‘Leading Serviced Apartment Brand’ and ‘Leading Serviced Apartments’ in Belgium, France, Germany, Hong Kong, Philippines, Singapore, Spain, Thailand and Vietnam, Business Traveller Asia-Pacific Awards 2015 for ‘Best Serviced Residence Brand’, Business Traveller UK Awards 2015 for ‘Best Serviced Apartment Company’, Business Traveller China Awards 2015 for ‘Best Serviced Residence Brand’ and 'Best Serviced Residence', Business Traveller Middle East Awards 2016 for 'Best Serviced Apartment Company', TTG China Travel Awards 2016 for ‘Best Serviced Residence Operator in China’ and DestinAsian Readers’ Choice Awards 2016 for ‘Best Serviced Residence Brand’. For a full list of awards, please visit http://www.theascottlimited.com/en/aboutus/awards.

Visit www.the-ascott.com for more information and connect with us on social media at www.the-ascott.com/connect.

About CapitaLand Limited

CapitaLand is one of Asia’s largest real estate companies headquartered and listed in Singapore.  The company leverages its significant asset base, design and development capabilities, active capital management strategies, extensive market network and operational capabilities to develop high-quality real estate products and services. Its diversified global real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes.  Its two core markets are Singapore and China, while Indonesia, Malaysia and Vietnam have been identified as new growth markets.  The company also has one of the largest real estate fund management businesses with assets located in Asia.

CapitaLand’s listed real estate investment trusts are CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.

Visit www.capitaland.com for more information.

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