Ascott enhances Indonesia portfolio with new strategic partnership

Ascott Limited

The Ascott Limited (Ascott) has entered into a strategic alliance with Indonesia’s leading property developer, Ciputra Development Group (Ciputra).

Under the alliance, Ascott will manage serviced residences to be developed by Ciputra in Indonesia and China within the next five years.

Citadines Sudirman Jakarta, comprising 253 units, is the first property under the alliance, which is scheduled for a 2021 opening.

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Since the establishment of its partnership with Ciputra in 1996 for Somerset Grand Citra Jakarta, Ascott acquired Ascott Kuningan Jakarta from Ciputra in 2014, as well as Citadines Sudirman Jakarta, the newly opened Ascott Sudirman Jakarta and Ascott Kuningan.

CEO, Ascott, Kevin Goh stated: “Forming a strategic cooperation with leading industry players continues to be a key growth strategy for Ascott, as it provides us with accelerated access to quality project pipeline. We will continue to work with our strategic partners to not only expand within their markets but also to extend their reach overseas.”

“Through our collaboration with strategic partners, Ascott has added the biggest number of properties in Indonesia in a year. With an expanded product offering, we expect to pick up pace in our growth in the country. We will continue to bolster Ascott’s position as the largest international lodging player in Indonesia through investment, strategic alliances, management contracts and franchises, as we work towards our global target of 160,000 units by 2023,” he concluded.

The strategic alliance with Ciputra follows Ascott’s recent partnership with TAUZIA Hotel Management (TAUZIA), one of Indonesia’s top five hotel operators. With these latest developments, Ascott achieved a record nine-fold increase in properties in Indonesia year-on-year, strengthening its position as the country’s largest lodging owner-operator. Its portfolio now stands at more than 130 serviced residences and business hotels, with close to 22,000 units across 39 cities in Indonesia.