Ascott wins contracts to manage 14 new properties including three under lyf

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SINGAPORE (April 9): The Ascott Limited, CapitaLand’s lodging business unit, has won contracts to manage 14 properties with over 2,000 units in China, Germany, India, Indonesia, Japan, Malaysia, Thailand and Saudi Arabia.

The 14 new properties included Ascott’s first foray into Changchun, the second largest city in Northeast China, as well as Germany’s first Ascott The Residence with the 100-unit Ascott Riverpark Tower Frankfurt.

Meanwhile, Ascott’s strategic alliance with Nasdaq-listed Huazhu Hotels Group (Huazhu), one of China’s leading hotel operators, and Huazhu’s subsidiary CJIA Apartments Group, also helped it secure...(click on link for full story on