Ascott has signed a new deal that will see the launch of its premium serviced apartment brand in Tokyo.
The Singapore-based company currently operates Citadines- and Somerset-branded properties in the Japanese capital, but a new leasing agreement with Mitsubishi Estate Company (MEC) will lead to the opening of the city’s first Ascott The Residence property.
Scheduled to open in 2017, the 129-unit Ascott Marunouchi Tokyo will form part of MEC’s new mixed-use development in central Tokyo, comprising offices and retail outlets. It will offer a range of accommodation units, ranging from studios to three-bedroom apartments, including some with traditional tatami mattresses. Facilities include a swimming pool, rooftop terrace, gymnasium, reading lounge, business centre and meeting rooms.
Lee Chee Koon, Ascott’s CEO said that he envisaged “significant demand for quality accommodation” in Tokyo in the years to come. “To meet the strong demand, Ascott plans to expand in Japan through investments, management contracts and lease agreements.
“With MEC’s ability to develop world class properties and Ascott’s strong branding and hospitality capabilities, we are confident that Ascott Marunouchi Tokyo will provide a memorable experience for discerning customers,” Lee added.
Ascott operates three serviced apartment brands – Ascott, Citadines and Somerset – with a portfolio spanning 83 cities across 23 countries. As well as Tokyo, the company also operates properties in the Japanese cities of Osaka, Nagoya, Kyoto and Fukuoka.