Ascott expanding presence with 2 more brands in Philippines

MANILA, Philippines - Ascott Limited, the world’s largest international serviced residence owner-operator, is expanding its presence in the Philippines as it targets to double its portfolio by 2020 amid the country’s economic gains and booming tourism sector.

Primarily catering to long-staying guests, Ascott Limited is looking to build 20 to 25 properties across the Philippines and doubling its unit inventory to 5,000 in the next four years.

Currently, Ascott has 11 properties with a total 2,346 units across its three brands  — Ascott, Citadines and Somerset.

“We really feel very strong and bullish on the Philippines. We’re in a great great position now being one of the earlier brands to come into the country,” Ascott regional general manager Arthur Gindap said.

He added Ascott plans to introduce two additional brands—Lyf and Crest Collection—catering to the millennials and higher ups, respectively, in the 2020 timeline.

Gindap said the global brand is considering the areas of The Fort in Taguig, Quezon City, and outside Metro Manila such as Sta. Rosa in Laguna, Batangas, Dumaguete, Iloilo and Davao.

“We are in discussions with at least 10 different organizations in different locations,” he said.

Five properties are in full operation, namely Somerset Millennium Makati, Ascott Makati, Citadines Salcedo Makati, Somerset Olympia Makati and Ascott Bonifacio Global City.

In the pipeline include Somerset Alabang Manila opening this month, Citadines Millennium Ortigas opening in December and Citadines Cebu City in 2019.