The Ascott group has signed an agreement to manage a Citadines Apart'hotel in Hangzhou, China. Although this will be the a first for the brand in the city, it will be the 11th Citadines Apart'hotel in China. The 100-room hotel is expeected to open in late 2014. According to Ascott's Managing Director for North Asia Kevin Goh, Hangzhou's growing demand for serviced apartments assures the future establishment's success, noting that "Hangzhou's economy and foreign direct investment grew respectively by an average of more than 10% and 12% annually in the last five years".
