Ascott has secured a contract to manage its first property in Busan, the South Korean port city.
The 468-unit Citadines Haeundae Busan will open in the second half of 2015, when it will also become the company’s first Citadines ‘apart-hotel’ in South Korea, and its largest property globally.
“We have been looking for opportunities to expand our presence in [South Korea] and see great potential in introducing our Citadines brand,” said Lee Chee Koon, Ascott’s CEO.
“While Somerset… caters to expatriate families, Citadines Apart-hotel provides an ideal home for independent travellers, with comfortable spaces and a flexible menu of services that guests can choose from to suit their lifestyle needs.”
Located close to the BEXCO convention centre, Citadines Haeundae Busan will form part of an integrated development that also includes shops and a cinema. It will offer a range of studios and one-bedroom apartments, plus a gymnasium, rooftop garden, laundry room and breakfast lounge.
Ascott acquired the European Citadines chain in 2004 and brought it to Asia in 2006. With the addition of Citadines Haeundae Busan, the brand’s portfolio grows to 79 properties across 49 cities.