(MENAFN- Muscat Daily) CapitaLand's wholly owned serviced residence business unit Ascott Ltd has secured a contract to manage its first Citadines Apart'hotel in Oman.
The management agreement for the new hotel which will come up in Muscat's Ghubra area was awarded to Ascott by Mohammed Hamed Salem al Ruzaiqy chairman of Al Ruzaiqi Group of Companies.
Tony Soh Ascott's chief corporate officer and head of the GCC and Turkey region said "This will be the third Citadines in the region one of our fastest growing brands with more 12000 units in 81 properties and 52 cities across Asia Pacific Europe and the Gulf region. With the fast-growing middle class and the rise of low-cost air travel we are seeing more independent travellers who enjoy the flexibility to choose the services according to their lifestyles."
Lee Chee Koon Ascott's chief executive officer said "Ascott has been expanding aggressively to achieve our milestone of 40000 units globally ahead of schedule. This year Ascott has so far added 17 properties in China Malaysia Thailand Turkey Vietnam Oman and UAE. We also opened eight properties with another 15 more to open in China India Indonesia Korea Malaysia the Philippines Oman and Saudi Arabia this year. Such an expansive growth demands an intimate understanding of the market and an ability to establish the right local alliances. To double our portfolio to 80000 units by 2020 our strategy is to expand through investments management contracts strategic alliances and franchises."
Soh added "Oman's tourism sector is becoming a focus playing a major role in the nation's economy accounting for 6.5 per cent of GDP in 2014. According to the World Travel and Tourism Council's Oman's tourism sector is expected to reach 8.2 per cent of GDP by 2024. Muscat plays a significant part in the GCC hospitality growth achieving the highest revenue per available room in 2014 after Dubai and Jeddah. The recently launched diversification programme known as 'Vision 2020' aims to build Oman into an oil independent economy through mega infrastructure projects such as the new International Airport"
"We are extremely pleased to enter into this management agreement with Ascott internationally renowned for its brands management and service excellence. We are confident that the Citadines Apart'Hotel brand is perfectly in line with Oman's growth of leisure commercial and extended-stay tourists visiting Muscat" said Ruzaiqy.
Ascott will open its first properties in Saudi Arabia Ascott Tahlia Jeddah Ascott Sari Jeddah and Citadines Al Salamah Jeddah as well as its first property in Oman Somerset Panorama Muscat in 2015. In addition Ascott is scheduled to open Ascott Olaya Riyadh Somerset Corniche Jeddah and Somerset Maslak Istanbul in 2016.
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