Ascott launches The Crest Collection and more properties in the Middle East

Travel News 15 Apr 2016

The Crest Collection

Ascott has launched The Crest Collection, a prized selection of some of its most prestigious and unique luxury serviced residences.

The collection offers the growing number of discerning travellers extraordinary experiences with a sense of home.

Each property is a signature on its own with a distinctive character which epitomises European elegance and grandeur.

The debut collection comprises the newly added Metropole, which will open in Bangkok in June 2016, and three of Ascott’s Citadines Suites properties in Paris that have been renamed to La Clef Louvre Paris, La Clef Champs-Élysées Paris as well as La Clef Tour Eiffel Paris, where the launch ceremony of The Crest Collection was held. Acquired in 2011, La Clef Tour Eiffel Paris was included in the global asset enhancement programme rolled out by Ascott in 2010.

Through Ascott’s extensive experience in product development and design, the property was boldly transformed – the serviced residence seamlessly marries Parisian elegance in a 19th century Haussmannian apartment building with the postmodernist style of celebrated architect Ricardo Bofill in an adjoining hotel.

The launch of The Crest Collection follows Ascott’s recent unveiling of its Tujia Somerset brand to cater to the booming segment of middle class travellers in China.

Together with its three award-winning brands of serviced residences – Ascott The Residence, Citadines Apart’hotel and Somerset Serviced Residence, Ascott is able to provide guests with wider choices to suit their different lifestyle needs.

 

Ascott increases Middle East Presence

The Ascott has continued its strong growth in the Middle East by inking contracts to manage its first two serviced residences in Al Khobar, one of the main metropolitan cities in Saudi Arabia’s oil-rich Eastern Province.

The 172-unit Ascott Corniche Al Khobar and 133-unit Somerset Downtown Al Khobar are slated to open in 2018 and 2019 respectively.

These latest contracts will increase Ascott’s presence in the Middle East to more than 2,300 apartment units across 16 properties in nine cities in Bahrain, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates.

Several countries in the Middle East are taking steps to boost their economies.

Saudi Arabia, the largest economy in the Middle East, has opened its stock market to foreign investors.

In recent years, it has been diversifying its economy by investing in telecommunications, petrochemicals, natural gas and power generation sectors.

As more multinational corporations from these sectors expand in Saudi Arabia, it will generate demand for Ascott’s serviced residences.

Major infrastructure projects are also underway in Qatar and the UAE for the FIFA World Cup 2022 and the Dubai World Expo 2020 respectively.