South Korea -- CapitaLand's wholly owned serviced residence business, The Ascott Limited (Ascott), has opened its first Citadines-branded property in Korea's capital, Citadines Han River Seoul. The opening of the 149-unit Citadines Han River Seoul marks Ascott's continued expansion in South Korea, with more than 1,000 units in operation including the 410-unit Somerset Palace Seoul and 468-unit Citadines Haeundae Busan.

Mr Max Phillips, Ascott's Country General Manager for Korea, said: "Citadines Han River Seoul is our second Citadines-branded serviced residence in South Korea, catering to the growing number of independent travellers who prefer the flexibility to choose the services according to their lifestyles. Since Ascott's acquisition of the Citadines Apart'hotel chain in 2004, Citadines has become one of our fastest growing brands and its portfolio has more than tripled from the initial 5,100 units to almost 16,000 units in 64 cities across Asia Pacific, Europe and the Middle East."

Situated in Yeongdeungpo-gu, close to the Yeouido and Gangnam financial districts, Citadines Han River Seoul is the perfect accommodation from which to experience the vibrant city life with easy access to major business complexes, entertainment venues and shopping centres. With the opening of Citadines Han River Seoul, Ascott now manages more than 47,000 units in over 290 properties around the world, of which more than 29,000 units are operational.

Modern conveniences and vibrant urban life

With a view of the Han River, Citadines Han River Seoul has an ideal location for business and leisure travellers. The serviced residence provides guests with the flexibility to choose from a menu of services such as laundry and dry-cleaning. Conveniently located near Seonyudo metro station, Citadines Han River is well connected to downtown and suburbs through the Olympicdaero, Gangbyeonbuk-ro and Gyeongin highways. The property is also near to a wide array of tourist attractions, department stores and entertainment outlets, including one of Seoul's largest shopping malls, Times Square, Seonyudo Park and Lotte Sweet Factory.

Stylish yet homely interiors

Guests can choose from studio apartments of three sizes: Studio, Studio Deluxe and Studio Executive. Each apartment is tastefully furnished with stylish interiors, a comfortable living area, bedroom and fully-equipped kitchen. Citadines Han River Seoul also has a fitness corner, a meeting room and a rooftop garden for guests to unwind.

Opening promotion

To celebrate the opening of Citadines Han River Seoul, Ascott is now offering 20% off its Best Flexible Rate with late check-out for stays from now till 31 December 2016. For more information, please visit: http://www2.citadines.com/en/promotion/cluster.html?did=73544. Book through Ascott's website for Best Rate Guarantee and sign up as an Ascott Online Advantage member to enjoy an additional 10% off.

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit http://www.capitalandinvest.com/ for more information.

Joey Wong
Manager, Group Communications
The Ascott Limited