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Ascott sets up in Brazil

The Ascott Group continues to expand worldwide with the openings of two new Citadines residence hotels in São Paulo in Brazil, in 2017 and 2020.

The hotel residences owner-operator Ascott is setting up in South America with the opening of two new residences operated under the Citadines brand in São Paulo. Citadines VN São Paulo Gardens will open in 2017 and will offer 92 keys. Citadines VN Faria Lima São Paulo will include 122 apartments and will welcome its first guests in 2020. Both will also offer co-working spaces, a gym and a swimming pool. These two units will be developed in cooperation with the real estate company Vitacon, with which the group also signed an agreement to build a park of 5,000 keys operated under the Citadines brand in São Paulo. Indeed, Ascott said it wishes to expand its business in this dynamic region, especially for business tourism. 

The Ascott Limited is a subsidiary of the real estate company CapitaLand and wants to develop 10,000 apartments in South America over the next five years with projects in Brazil, Argentina, Mexico and Chile. As of January 1, 2016, Ascott International ranked 126th in the worldwide ranking  of hotel and extended-stay chains, with 67 establishments totaling 9,639 rooms, according to data published by Hospitality ON.

Also read:

  • The Ascott Limited accelerates development in the Middle East
  • The Ascott Limited arrives in Ireland 
  • Ascott further strenghtens its Citadines brand in Hong Kong 
  • The Ascott Limited multiplies its Chinese partnerships 

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