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Ascott launches new brand aimed at China’s middle class

18 Mar 2016 by Clement Huang
The Ascott Limited has unveiled a new brand – Tujia Somerset – that is aimed at China’s growing middle class segment. The brand is the result of a joint-venture partnership with Tujia.com International, China’s largest online apartment sharing platform, which has signed contracts to manage six serviced residences operated under the Tujia Somerset name. Somerset Baiyue Dalian Two of the six properties – the 76-unit Tujia Somerset Baiyue Dalian and the 355-unit Tujia Somerset Xinhui Shenyang – are currently in operation. Tujia Somerset South Nanjing The other four serviced residences are the 154-unit Tujia Somerset West Coast Haikou, 140-unit Tujia Somerset Shining City Wuxi, 102-unit Tujia Somerset Weilian Tianjin and the 178-unit Tujia Somerset South Nanjing – which will open later this year. According to Lee Chee Koon, Ascott’s chief executive, the company is aiming to have 2,000 units under the Tujia Somerset brand by the end of 2016, which will help maintain its target of offering 20,000 units in China and 80,000 units globally by 2020. “Ascott’s investment in Tujia is providing us with a new pipeline to manage apartments for a growing number of Chinese corporate asset owners, as well as individual homeowners with multiple properties,” said Lee. “With Ascott’s expanded suite of products and services in the country, we will be in a stronger position to cater to the varying needs of property owners and guests, and rapidly increase our scale in China with the new Tujia Somerset brand along with our established Ascott, Citadines and Somerset brands.” For more information, visit the-ascott.com Clement Huang
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