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Ascott Will Open Two Hotels in China

According to CapitaLand Ltd., Ascott Ltd. has just concluded the agreement concerning the management of two hotels in China. These will be Ascott hotel in Chengdu, and Somerset hotel in Beijing. The opening of the two properties is the part of the company’s strategy of increasing the number of guestrooms in the country to 12,000 by 2015. At the moment Ascott has 7,000 rooms in its Chinese portfolio. No financial details about the contracts are available at the moment.

Ascott Financial City Changdu will have 181-guestrooms and will be the company’s first serviced residences complex in this city. This hotel will be a part of a large 58-storey twin-tower development that will have either business or entertainment facilities. Ascott hotel in Changdu will feature studios with one-four bedrooms. The second hotel will be located in Wangjing – the business district of Beijing. The hotel will have 187 guestrooms and is scheduled for opening in 2013. Somerset Wangjing Beijing will offer to its guests apartments with one, two, and three bedrooms. On the territory of the hotel will be located a meeting room, a business center, a swimming pool and a gymnasium. Right next to the hotel is located the entrance to the metro station.

Ascott ltd. is fully owned by CapitaLand. The company provides serviced residences accommodations and is known as one of the biggest owners-operators of China in this sector. At the moment this company owns or operates 38 serviced residences in 16 main cities of China. The company considers China as one of its key markets and is very confident about development in this part of the world.

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