Ascott cements another year of global growth

Ascott has 21 serviced residence units in the Middle East region.
Updated 24 December 2018
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Ascott cements another year of global growth

It has been a milestone year for The Ascott Limited driven by new property openings across the MEA region.

In October, the company made its African debut with the launch of Kwarleyz Residence in Accra, the capital of Ghana. It is Ghana’s first international-class serviced residence in the capital’s upscale airport residential area. Ascott plans to extend its footprint in the West African nation next year, having secured a contract to manage Ascott 1 Oxford Street, a 220-unit serviced apartment in Accra’s Osu district known as the “West End” of Accra. 

“Africa is a lucrative market with huge potential and, after Asia, is the world’s second fastest-growing economy,” said Vincent Miccolis, Ascott’s regional GM for Middle East, Africa and Turkey. 

In the Middle East, Ascott has extended its presence this year via a number of expansion deals, taking its total number of serviced residence units in the region to 21 (operational and pipeline). The company has accomplished 10 percent revenue growth across its overall property portfolio in Saudi Arabia, alongside a 10-15 percent average increase growth in occupancy. 

“Saudi Arabia remains a dynamic market within the Middle East and as the Kingdom diversifies its economy, we’re seeing strong demand for Ascott’s serviced residences driven by domestic and regional travelers from business and leisure sectors,” said Miccolis. 

Elsewhere in the GCC nations, Bahrain proved to be another strong performer for the owner-operator, with a 15 percent increase in occupancy and 5 percent revenue growth for 2018. 

“Looking ahead to 2019 and beyond, it promises to be an exciting period for Ascott with expansion through strategic alliances, management contracts and franchisee agreements. We’re well on our way to becoming the leading serviced apartment provider in the Middle East with a target of 5,000 units across MEA and Turkey by 2020,” said Miccolis.


Ascott Jeddah supports World Kidney Day

Staff members from Ascott Tahlia Jeddah, Ascott Sari Jeddah, Citadines Al-Salamah Jeddah and Spectrums Residence Jeddah visited the Hisham Attar Center for dialysis, to spend time with 70 patients.
Updated 18 March 2019
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Ascott Jeddah supports World Kidney Day

In light of National Kidney Month observed in March, The Ascott Limited joined forces with Albir Society Jeddah to observe World Kidney Day, on Thursday.

Staff members from Ascott Tahlia Jeddah, Ascott Sari Jeddah, Citadines Al-Salamah Jeddah and Spectrums Residence Jeddah visited the Hisham Attar Center for dialysis, to spend time with 70 patients, who were presented a flower and a gift from the properties.

Further supporting the cause, a dedicated Albir Society stand has been set up in the lobby of the four properties from March 13th to 20th, enabling a financial contribution from both staff and guests, as Ascott aims to raise support for the organization.

Vincent Miccolis, Ascott’s regional general manager for Middle East, Africa and Turkey, said: “We’re proud to support this important cause across Ascott Jeddah and enable both staff and guests to get involved. All Ascott Jeddah staff wore a green ribbon on their uniforms for the month of March, further driving awareness and showing their commitment to the cause. CSR initiatives form a core component of Ascott’s operations, and we’re pleased to be able to support the Albir Society Jeddah.”

World Kidney Day is annually observed on second Thursday in March. This year, it fell on March 14. The day is marked to raise awareness about kidney health and its relation to our overall health. This year, the theme of World Kidney Day was “Kidney Health For Everyone Everywhere.”

According to National Health Portal, chronic kidney disease is the sixth fastest growing cause of death. Around 850 million people worldwide are now estimated to have kidney diseases due to various causes. Around 1.7 million people are estimated to die annually due to acute kidney injury globally.

The Ascott Limited is a Singapore company that has grown to be one of the leading international lodging owner-operators. It has more than 58,000 operating units in key cities of the Americas, Asia Pacific, Europe, the Middle East and Africa, as well as over 42,000 units, which are under development, making a total of more than 100,000 units in over 660 properties.

The company’s serviced residence and hotel brands include Ascott, Citadines, Somerset, Quest, The Crest Collection, lyf, HARRIS, FOX HARRIS, YELLO, POP!, Préférence and HARRIS Vertu.