Ascott opens first Citadines serviced residence in Seoul, 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