Continuing its growth in China in particular, Ascott will add 900 new apartments to its portfolio, and surpass the 35,000 unit mark for its supply of residences worldwide.

Ascott pursues growth in China, announcing the takeover of management of four new properties in the country. The group will set down its bags in Taiyuan for the first time with the opening of the Ascott Taiyuan (170 apartments) in 2018. In 2016 it will also open the Ascott Riverside Garden Beijing (195 apartments), the Somerset Sunland Shanghai (342 apartments), and the Somerset Grand Central Dalian (195 apartments).

With these projects, the group will have 64 properties and more than 11,600 apartments in China and will exceed 35,000 apartments available in its global portfolio.

Mr. Lee Chee Koon, CEO at Ascott, declared: "As we celebrate Ascott's 30th birthday this year, we have made important progress for the growth of our business in order to surpass 35,000 units of accommodations worldwide, and in addition to the acquisition of a first class property in Hong Kong, we have gained management contracts for eight other properties in Yangon, Wuhan, Taiyuan, Beijing, Shanghai and Dalian. We have also created a strategic alliance with Vanke to drive the growth of Ascott in China and have recently secured our first franchise agreements in Vientiane in Laos and Bali in Indonesia."

The Ascott group, originating in Singapore, now has 23,000 rooms and 11,000 in its pipeline, which should bring it over the 35,000 unit mark for over 200 properties.