Ascott’s regional growth strategy on track
The Ascott Limited has announced its target of an additional 1,650 keys to its portfolio by 2020. To date, in Q1 2019, the global owner-operator’s total number of operating units in the region is 1,736 spanning seven countries across the Middle East, Africa and Turkey.
Since launching operations in the region, Ascott’s portfolio has gone from strength to strength. The group currently has 12 existing properties in operation across 11 cities in Saudi Arabia, the UAE, Turkey, Bahrain, Oman, Qatar and Ghana, featuring the group’s award- winning hospitality brands Ascott, Citadines and Somerset.
Looking ahead, Ascott has an additional 11 properties (1,638 keys) currently under development throughout the region. Six of these are scheduled to open in the Kingdom, and the remaining in the UAE, Turkey, Ghana and Oman. A number of other deals across the region are also in the pipeline, as Ascott works toward its 2020 target of 5,000 units.
“These are hugely exciting times for the group,” said Vincent Miccolis, Ascott’s regional GM for Middle East, Africa and Turkey. “We continue to build upon the firm foundations we have laid in the Gulf region almost four years ago when we unveiled our first property in Saudi Arabia.”
Ascott entered the nascent Saudi hospitality market in 2015. “Taking into account the reforms underway in the Kingdom alongside the growth of the Kingdom’s private sector and massive infrastructure investment, it’s clear to see why this region has long been one of our key expansion destinations,” added Miccolis.