Ascott eyes further expansion across the Middle East

CapitalLand’s lodging business arm to reach 10,000 units in the region by 2025

The expansion would take the company’s serviced apartments business, which is wholly owned by Singaporean CapitalLand

Hospitality giant The Ascott Limited has revealed plans to grow its Middle East, Africa and Turkey (MEAT) portfolio by an additional 6,000 units over the next five years.

The expansion would take the company’s serviced apartments business, which is wholly owned by Singaporean CapitalLand, up to 10,000 units by 2025.

“Despite the challenges the hospitality industry faced across the world in 2020, our sustainable business model has allowed us to stand firm performance-wise,” said Vincent Miccolis, Ascott’s regional GM for the Middle East, Africa, Turkey and India.

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