The Ascott Marunouchi Tokyo
that will triple the company ’ s U . S . footprint to 3,000 units . Ascott operates more than 43,000 units worldwide , has 26,000 under development , aiming for 80,000 by 2020 .
The company is opening the most properties in China , its largest market , Yong says . Last year Ascott invested in Tujia . com , China ’ s largest apartment sharing platform .
Courting millennials Like its competitors , Ascott has segmented its audience and is eager to court millennials . It owns six brands , including Citadines , Somerset , geared to families , and its upscale Crest Collection . Its newest brand , Lyf , caters to young professionals with communal spaces that can be transformed for workshops or social gatherings , and social kitchens where guests can prepare meals or take cooking classes . Ascott aims to have 10,000 units under the Lyf brand by 2020 with a focus on Asian and Western European cities . Fast-growing Frasers Hospitality , also based in Singapore , operates three formats under the Fraser name and two additional brands . It launched a partnership with Mercedes , Mercedes-Benz Living @ Fraser , which debuted in London and expanded to
Citadines Barbican London
Singapore . The luxury suites include a smart TV , high-end 3-D surround sound system and a chandelier of Swarovski crystals .
Frasers positioned its Modena brand for millennials with eco-friendly toiletries and other consumables . The properties are within business zones and technology parks , with communal workspaces , cafes for grabbing quick meals and 24-hour gyms . The laundry rooms feature Nintendo Wii .
Operators are making a push in Europe , with 10,000 units in the pipeline , according to a July HVS report , and new players are emerging such as Base in Switzerland and Cityden in Amsterdam , notes report author and senior associate Nicole Perreten .
The United Kingdom and Germany will see almost three-quarters of the new properties . Leading the way are Residence Inn , with 1,232 units opening through 2019 , and Ireland ’ s Staycity , with 1,166 units slated through 2020 , according to HVS . Staycity , which recently launched upscale Wilde Aparthotels , plans to more than triple its portfolio to 15,000 rooms by 2022 with a focus on Dublin , the U . K . and Germany .
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