Singapore-based serviced apartments brand The Ascott Limited has officially expanded into the European region with its first franchise agreement.
The franchise opening in Amsterdam is set for March 2019 with additional French locations to come. Ascott will franchise the Citadines Apart’hotel brand to Amsterdam-based WIN Hotels Group, who will operate the property named Citadines Sloterdijk Station Amsterdam.
The residence is located in the district of Sloterdijk, with direct access into the city centre and airport and within close proximity to several company head offices.
“We see strong potential in this market”
Managing director of Ascott Europe, Ngor Houai Lee, said: “Ascott’s strategic entry into Amsterdam through franchise is a significant move to expand both our European and global network of properties. We see strong potential in this market to respond to the ever-increasing demand from tourists, who are travelling from all over the world to visit Amsterdam, as well as those travelling for business, with Amsterdam now the twelfth most visited city in the world.”
WIN Hotel Group is a family-owned company based in Amsterdam. Their first property as opened in 1997 in Damrak, Amsterdam and at present the company owns more than ten hotels in the city, most of which are operated under international brands.
Patrick Kerkhoven, chief operating officer at WIN Hotels Group, said: “We are thrilled to partner with Ascott to bring Citadines Sloterdijk Station Amsterdam into the Netherlands region, with no better place to start than the metropolitan hub of Amsterdam.”
“30,000 units across 189 properties in 2018”
Lee further added: “Ascott’s strategy is to aggressively expand in the coming years to edge closer towards a target of 160,000 units globally by 2023, through direct investment, management contracts and franchises.
“This strategy has already seen success with the addition of over 30,000 units across 189 properties in 2018, making Ascott one of the fastest growing global players in the lodging industry, boosting the portfolio to over 100,000 units, and surpassing the initial target of 80,000 units by 2020.”