The Ascott has secured a freelance to regulate its first serviced residence in Nanjing. The contract was awarded by Nanjing Lek Yuen Property Development Company, a massive property developer in Nanjing, China. Citadines Baijia Lake Nanjing, in order to have approximately 290 apartment units, is slated to open inside the second 1/2 2014. The latest addition has reinforced Ascott’s leadership position because the largest international serviced residence owner-operator in China with greater than 8,300 apartment units in 46 properties across 18 cities. Chong Kee Hiong, Ascott’s chief executive, said: “China is Ascott’s fastest growing market. “It also is our strongest market where our revenue per available unit in 2012 increased by 15 per cent over 2011. “Besides building on our presence in tier one cities in China, we’ve got been...
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