Ascott Reports Record Year; Adds Over 14,200 Units Across 71 Properties in 2020
(12 Jan 2021) Ascott added over 14,200 units across 71 properties globally in 2020, exceeding the number of units secured in 2019 and marking a fourth consecutive year of record growth for the company.
In China, Ascott has also achieved an 80% year-on-year growth in units when compared to 2019.
The new properties secured will boost Ascott’s annual fee income by over S$27 million as they progressively open and stabilise.
Since October 2020, Ascott has added more than 4,900 units across 23 properties. This includes over 3,800 units across 17 properties in China. Ascott will make its first foray into the city of Yangzhou while expanding in other cities such as Beijing,