Ascott enters Pattaya with quadruple deal
October 15, 2015
Published on Oct 15, 2015
Serviced apartment group signs new Somerset and Citadines properties in Thai resort town
Ascott has signed new management deals for its first four properties in Pattaya.
The Singapore-based serviced apartment company will launch the Citadines North Pattaya, Citadines Central Pattaya, Citadines Jomtien Beach Pattaya and Somerset Wong Amat Beach Pattaya in and around the popular Thai resort town, adding 695 new units to its portfolio.
The four properties will open from 2018 onwards.
The new properties increase the number of management contracts signed by Ascott in Southeast Asia this year to 14, adding more than 2,700 serviced apartments in the region. And the company's CEO, Lee Chee Koon, said Ascott would continue to focus on Southeast Asia in future.
"We have ramped up our expansion in Southeast Asia as we see strong growth potential in the long-term," said Lee. "With more than 13,000 apartment units in 73 properties across eight countries in Southeast Asia, over 30% of Ascott's global footprint is now concentrated in this fast-growing region."
The four new properties in Pattaya will cater to different segments of the corporate and leisure markets. The 300-unit Citadines North Pattaya is designed for corporate travelers from the nearby major industrial estates, while 150-unit Citadines Central Pattaya is designed for leisure travelers.
The 95-unit Citadines Jomtien Beach Pattaya is intended for both leisure travelers and expats working at the nearby industrial estate in Rayong, while the 150-unit Somerset Wong Amat Beach Pattaya will cater to both families and corporate guests on extended stays.
Pattaya becomes Ascott's third Thai city, after Bangkok and Sri Racha.
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