Ascott purchases Hong Kong property

The Ascott has announced that it has purchased The Mercer, a serviced residence facility in Hong Kong, for HK$545 million (US$70 million). Ascott will rebrand the facility as Citadines Mercer Hong Kong, and relaunch it in the third quarter of 2014.

The Mercer is currently managed by Dorsett Hospitality International and operating as part of the group’s d.collection portfolio. For a more detailed look into the Hong Kong-based hotel group, please see here for the “Regional Players” article in the September 2013 issue of Business Traveller Asia-Pacific.

According to Kevin Goh, Ascott’s managing director for North Asia, the group has noticed a strong demand for long-stay properties in Hong Kong, with another of its serviced residences Citadines Ashley Hong Kong enjoying a consistently high occupancy of over 90 per cent since it opened in 2006.

“There is strong demand for serviced residences from expatriates and travellers in Hong Kong as it remains a key metropolitan city in Asia for foreign direct investment, especially for companies seeking to expand in the fast-growing Pearl River Delta region,” said Goh.

Located at Jervois Street in Sheung Wan, the 55-unit property is a minute walk from the Sheung Wan station of the Mass Transit Railway and is a single stop away from the business district of Central. The International Finance Centre (IFC) – home to many multinational companies and financial institutions – is also within a walkable distance. Popular attractions near the serviced residence facility include the trendy Soho area, as well as the entertainment district of Lan Kwai Fong. 

For more on the up and coming neighbourhood of Sheung Wan, click here for a story from June 2013 issue of Business Traveller Asia-Pacific. To subscribe, click here.

The serviced residence facility offers studio rooms that measure 37 sqm, and one-bedroom apartments at 52 sqm. All rooms will feature a kitchenette, living area and workspace. Guests will also have access to a number of recreational options including a residents’ lounge, gymnasium and swimming pool.

For more information, visit www.the-ascott.com

Clement Huang


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