Search Results forCitadines
CapitaLand Ascott Trust’s Citadines Karasuma-Gojo Kyoto divested for JPY6.18 billion
CapitaLand Ascott Trust (CLAS) divested Citadines Karasuma-Gojo Kyoto in Japan to an unrelated third party for about JPY6.18 billion. The 124-unit property was divested at 40.1 percent above book value at an exit EBITDA yield of about 0.3 percent. Net proceeds of the divestment are JPY4.4 billion and CLAS has recognised a net gain of JPY0.9 billion. Serena Teo, chief executive of CLAS’ management firms CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte Ltd, said: “The divestment of Citadines Karasuma-Gojo Kyoto is in line with [our] active portfolio reconstitution strategy. The mature property has reached the optimal stage of its lifecycle. We plan to redeploy the divestment proceeds into higher-yielding investments to further grow our returns to Stapled Securityholders.” At present, Japan remains a key market for CLAS and is one of the company’s strongest performing markets. In light of the divestment, CLAS will continue to seek opportunities to strengthen its portfolio in the East Asian country. Other developments Teo added that the recently announced proposal to acquire lyf Funan Singapore also demonstrates CLAS’ ability to enhance value for Stapled Securityholders by using proceeds from its divestment of Citadines Mount Sophia Singapore at an exit EBITDA yield of 3.2 percent towards the proposed acquisition of lyf Funan Singapore at a higher yield of 4.7 percent. In the first half of this year, CLAS also completed the acquisition of Teriha Ocean Stage, a rental housing property in Fukuoka, Japan, and fully acquired Standard at Columbia, a student accommodation property in the United States of America. Teo said of these: “The acquisitions will strengthen our income stream, creating sustainable value for our Stapled Securityholders.”
The Ascott Limited’s Citadines Walker opens with 252 keys in North Sydney
The latest offering from The Ascott Limited Australia, (Ascott Australia) Citadines Walker boasts the highest room count in North Sydney, offering 252 rooms across 19 levels inside the now complete 88 Walker St development, which stands as the tallest tower in North Sydney. A member of Ascott Australia’s leading portfolio of brands, Citadines (French for ‘City dwellers’) blends the best elements of cities into hotels through the property and the property team, referred to as ‘Citazens’. Citadines combines comfort and flexibility to provide business and leisure guests with the best of city living. The modern accommodation mix includes stylish studio rooms and spacious suites with separate living and kitchenette. Citadines Walker’s innovative design embraces a unique two-story mezzanine featuring impressive double storey windows. Level 5 houses reception and a guest lounge. Level 6 includes a Fitness Centre with floor to ceiling windows, and a business centre with a Boardroom and workstations. A relaxed restaurant lounge and bar offering is set to open on level 5 next year. Citadines Walker is a key part of the revitalisation of the North Sydney CBD. The hotel is strategically located adjacent to the upcoming Victoria Cross metro station, which will connect North Sydney with Barangaroo in three minutes, and Martin Place in five minutes. Citadines Walker is the second Citadines Hotel to be opened in NSW, and the fourth in the Australian market. Currently the Citadines brand represents 193 properties and over 33,500 rooms globally. The resurgent business travel market has seen Citadines become the fastest growing hotel brand in The Ascott Limited’s global portfolio, with 21 new Citadines hotels opening this year. According to the latest Tourism Research Australia National Visitor Survey results, Australians spent $2.4 billion on business travel in June 2023, a 41% increase on June 2022. North Sydney is a key centre for business and Citadines Walker will serve a range of local industries including finance, professional services, media, healthcare and education. In 2022, the Business Services sector accounted for 61.0% of employment in the North Sydney Council area. Managing director Ascott Australia, David Mansfield said: “Citadines Walker North Sydney will connect guests with comfortable and flexible accommodation in a blue-ribbon location, and a friendly teams of ‘Citazens’ to connect guests with the very best experiences North Sydney has to offer.” “Citadines offers guests an attractive location to mix business and leisure. You can get work done, enjoy dinner and a drink, and immerse yourself in the surrounding cityscape. The mixed-use nature of 88 Walker St means it is a hub of activity compared to neighbouring mono use buildings.” “Through brands like Citadines and lyf, Ascott Australia is investing in the infrastructure to grow the lucrative bleisure travel market in Australia, which is primed for growth across the APAC region. Ascott continues to build market share at speed through our hub and spoke approach, weaving our brands like Citadines and lyf together into a network that meets the needs of all travellers. With Citadines Walker North Sydney, and the upcoming lyf Sussex Sydney, Ascott Australia is supporting Sydney’s economic growth and the wider visitor economy.” 88 Walker St Architect and Partner at Fitzpatrick + Partners, Paul Reidy said: “The brief for the Citadines hotel was all about comfort, and the design brings a grounding minimalist feel. You feel connected to the beating heart of the city. We kept the bedrooms warm to dark, creating a cosy aesthetic that cocoons guests. The darker tones in the public spaces enable the strength of the concrete walls to feature prominently.” “The Citadines brand signature connects you with cities, and with Citadines Walker the ground floor lobby serves as a public space. The mezzanine design across levels 5 and 6 uses impressive double storey windows to bring the surrounding cityscape inside the hotel. Within these public levels there are spaces for a shower if you arrive early, and spaces to work.” “Blending the hotel amenities and reception together with the restaurant into a single vibrant space creates a unique atmosphere at Citadines Walker. The elaborately lit petal soffit to the tower above the eye-catching cantilever work to command attention and breathe life into the hotel exterior, providing a ceiling to Walker street, and a new North Sydney landmark.”
Citadines Metro Central Dubai showcases commitment to sustainability
The Ascott Limited (Ascott), the leading international lodging owner-operator, continues to spearhead innovative sustainability initiatives at its vibrant lifestyle property in the UAE, Citadines Metro Central Dubai. Since 2021, the apart’hotel has undertaken an impressive commitment to decrease its environmental impact and enhance sustainable best practices across services including the elimination of 120,000 plastic bottles and the recycling of about 2150 kgs of waste. Located in one of Dubai’s most central districts, Barsha Heights, the property has been Green Key certified since 2017, as a result of its ongoing commitment to protect and reduce its overall negative impact on the environment. The Green Key certificate is the leading standard for excellence in the field of environmental responsibility and sustainable operation within the tourism industry globally. Since July 2021, under the LUVE (Love Ur Vibrant Earth) Bottle Initiative, Citadines Metro Central Dubai has successfully replaced more than 120,000 plastic bottled water with glass bottles. Following a paperless initiative to reduce waste, the guest directory and café menu can only be accessed using special QR codes. As an active member of the community, Citadines Metro Central Dubai regularly engages with the Emirates Environmental Group (EEG) on eco-focused projects. Over the past three years, members of the team at the award-winning serviced apartment have participated in the annual UAE clean-up drive and contributed to the can collection programme. Additionally, 360 kg of cartons from the property have been recycled every year, while 550 kg of linen has been donated to the Beit Al Khair Society. Committed to creating a positive impact for the community and guests, the stellar property aims to also reduce its carbon emissions to a minimal in the coming future. Mr. Vincent Miccolis, Ascott’s Managing Director for the Middle East, Africa, Turkiye and India, remarked on the property’s outstanding contribution: “As the world transitions towards net zero, Ascott properties have intensified their efforts to identify low carbon solutions for their operations, to reduce the carbon footprint and minimise the impact on the environment. By implementing eco-conscious initiatives, Citadines Metro Central Dubai has successfully built a framework for how the property, and Ascott, can create a more eco-friendly and sustainably driven experiences for our guests and staff.” Citadines Metro Central Dubai offers well-travelled guests a choice of studios, and one-bedroom modern and stylish apartments, fully furnished with convenience in mind. Each spacious and vibrant unit is fitted with a fully-equipped modern kitchenette, dining and living areas, ensuring the comforts of a home within city-living. Citadines also offers world-class amenities such as a swimming pool and deck on the rooftop with views overlooking Dubai, a fitness centre, and a business corner.
Ascott Limited showcases sustainable commitment at Citadines Metro Central Dubai
Since 2021, Ascott's Citadines Metro Central Dubai has undertaken an impressive commitment to increase sustainable best practices across services including the elimination of 120,000 plastic bottles and the recycling of about 2150 kgs of waste. The property has been Green Key certified since 2017, as a result of its ongoing commitment to excellence in the field of environmental responsibility and sustainable operation within the tourism industry globally. Since July 2021, under the LUVE (Love Ur Vibrant Earth) Bottle Initiative, Citadines Metro Central Dubai has successfully replaced more than 120,000 plastic bottled water with glass bottles. Citadines Metro Central Dubai regularly engages with the Emirates Environmental Group (EEG) on eco-focused projects. Over the past three years, members of the team have participated in the annual UAE clean-up drive and contributed to the can collection programme. Additionally, 360 kg of cartons from the property have been recycled every year, while 550 kg of linen has been donated to the Beit Al Khair Society.
The Ascott Limited unveils Citadines brand refresh
CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott), unveils the refresh of its fastest growing brand, Citadines, with 80 properties under development across 56 cities. Ascott acquired the Citadines chain in Europe in 2004. It has since tripled its portfolio with 104 properties in operation, including its latest flagship property, Citadines Raffles Place Singapore, in the heart of the city’s financial district. Every city is unique. Citadines, which means ‘city dwellers’ in French, strikes a chord with travellers who seek quality city living. With the tagline ‘For the Love of Cities’, Citadines offers travellers the comfort of a serviced residence and the flexibility of a hotel. The refreshed brand is anchored upon the commitment to provide guests with the best of city living while inspiring them to live, work and play in infinite ways. With a sharpened brand purpose, guests can still look forward to the reliability that comes with the familiarity of the Citadines hospitality, while at the same time collect enjoyable memories of their stays as they immerse themselves in the different personalities of each and every city where Citadines is present in. The refreshed Citadines brand seeks to consistently curate unique experiences and service offerings that best meet the needs of its guests. Ms Tan Bee Leng, Ascott’s Managing Director for Brand & Marketing, said: “Citadines is an important brand in Ascott’s portfolio and we look to aggressively expand its footprint in key cities around the world. We have always believed in the market potential of aparthotel living. Supported by its design versatility, favourable guest demographics and resilient market fundamentals, the growth of the brand has been exponential. Over the past few years, the serviced apartment business has transformed. We have likewise pivoted our offerings towards a hybrid model that would not only allow us to offer the option of both hotel rooms and serviced residences, but also a robust programme that better caters to the lifestyle needs of our guests. With the buoyant growth in both corporate and leisure travel across key markets, we are excited to bolster our expansion plans for Citadines. Especially as travel resumes, it is timely for us to embark on a brand refresh for this fastest growing brand. With the trajectory we’re seeing, we are confident to continue growing Citadines, which has one of the most extensive global footprints amongst aparthotel brands, to deliver value for both our guests and owners.” Presenting Citadines’ brand signatures As part of the refreshed brand and its ambition to promote a well-balanced lifestyle, ‘activ∞’, will be a key brand signature across all Citadines properties. A curation of amenities and programmes to jumpstart city living, activ∞ will ensure guests can live, work and play seamlessly within the property and around the city. This includes resident events that are specially designed to activate the infinite possibilities of city living, fitness amenities and programmes that encourage an active lifestyle. Another signature programme is ‘For the Love of Coffee’, a collaboration with local communities to deliver unique coffee-related Citadines experiences to guests, wherever they are in the world. Through the universal language of coffee, Citadines aims to bring guests together, enabling a truly shared, immersive experience in every city. For the Love of Coffee will be a key feature in Citadines properties across the world. For example, Citadines Grand Central Sri Racha in Thailand launched an extensive line-up of activities during International Coffee Week last year, in partnership with Italian coffee company, illy, through a series of workshops, staff engagement programmes and complimentary coffee for guests. Citadines properties around the world will also be launching a series of coffee activation activities over the month of October this year, in support of #CitadinesLovesCoffee. Other brand signature initiatives include the café check-in experience at Citadines Raffles Place Singapore, where guests will be greeted by an integrated reception incorporating the relaxing vibes of a café as they step into the lobby. At Citadines Bay City Manila in the Philippines, the social lounge has been revamped into a coffee bar, where guests can interact and chat over a cup of coffee. Convertible features are also another brand signature that allows for the transformation of rooms and property spaces to suit the daily work and lifestyle needs of guests. At Citadines Raffles Place Singapore, guests seeking to prepare their meals or host a private meeting in a more social environment may take advantage of the residents’ kitchen, a private dining space which doubles up for both meetings and intimate dining events. A shared workspace at the lobby is fitted with varying seating arrangements including communal tables as well as barstools at high tables to ensure that different working styles are met. Citadines associates, known as ‘Citazens’, will undergo barista training and double-up as baristas, in addition to providing guests with the best hacks to navigate city living. This programme has since been successfully rolled-out at Citadines Sudirman Jakarta, and will be further expanded to other Citadines properties. With the unveiling of the refreshed Citadines brand, guests can expect to experience the full suite of key brand signatures as properties progressively roll out all initiatives across regions including the Americas, Asia Pacific, Europe and the Middle East by 2025. A brand film titled ‘For The Love of Cities’, will roll out on various digital and social channels as part of the Citadines brand refresh. The film illustrates how each city offers its own unique sights, sounds and experiences. It highlights Citadines’ commitment to deliver on the best of city living, with every service offering catered to satisfy its guests in infinite ways. A regional TikTok campaign will kick off on 27 September 2022 across eight markets: Australia, France, Indonesia, Japan, Philippines, Singapore, the United Arab Emirates and Vietnam.
Ascott unveils Citadines brand refresh
The Ascott Limited (Ascott), a wholly owned lodging business unit owned by CapitaLand Investment Limited, has today unveiled the refresh of its fastest growing brand, Citadines, with 80 properties under development across 56 cities. Ascott also celebrates its latest flagship property, Citadines Raffles Place Singapore, located in the heart of the city’s financial district. With […] Ascott unveils Citadines brand refresh
Furry friends on Citadines on Bourke Melbourne’s mind
Having recently welcomed dogs to a selection of apartments at Somerset on Elizabeth Melbourne, The Ascott is now spreading the hound joy to its sister property, Citadines on Bourke Melbourne. Found in the heart of Melbourne’s CBD and comprised of spacious apartments with separate living and dining areas, Citadines on Bourke Melbourne will offer guests and their companions the perfect base to stretch out, relax and explore the city’s many sights and sounds at an affordable price. To ensure the experience is nothing less than ‘doggy-tastic’, the four-legged guests will be catered for with a bed fit for the furry traveller, water and food bowls, and a welcome pack including treats, toys and a special gift. Pups on their first city-break will get a true taste for the highlife, experiencing their very own New York moment at the aparthotel’s rooftop courtyard. A vantage point to be enjoyed by all guests, there’ll be plenty of room for doggies to run around and owners to take in the city from up above.
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