Citadines Cupertino Sunnyvale
The Domain Hotel To Be Rebranded As Citadines Cupertino Sunnyvale
CapitaLand"s wholly owned serviced residence business unit, The Ascott Limited (Ascott), is investing S$81.5 million to acquire and refurbish The Domain Hotel, a freehold hotel in Silicon Valley, California, to capture the fast-growing demand from global technology companies and multinational corporations. The 136-unit hotel will continue to operate as it undergoes refurbishment in phases before being rebranded to Citadines Cupertino Sunnyvale in 4Q 2018. This will be Ascott"s second Citadines-branded property in the U.S., following its acquisition of Hotel Central Fifth Avenue New York in May. The latter will be renovated and rebranded to Citadines Fifth Avenue New York in 2018. The property is Ascott"s fourth acquisition in the U.S. within five months. Ascott has more than tripled last year"s portfolio to over 2,900 units in the country.
The Domain Hotel is situated along Sunnyvale"s primary thoroughfare, El Camino Real, that leads to San Francisco City and San Jose. The property is surrounded by numerous renowned corporations and startups including Apple"s new US$5 billion headquarter campus, which will accommodate more than 12,000 employees, Google, Amazon, Adobe, Intel, Netflix, Nvidia, PayPal and Telsa Motors.