Published:
Ascott on track to achieve 80,000 units by 2020
4,000 units are due to open in China next year.
Ascott currently manage 52k units and targets to achieve 80k units by 2020, of which 20k are from China.
Based on DBS Group Research's channel check, a healthy pipeline of 8k units are to be opened in the next few years in China, of which 4k units are slated to be opened by 2017.
Moving forward, DBS notes that the Management targets to focus on expanding via management contracts, in line with the groups’ asset-light strategy.
"Management is positive on the pipeline of management contracts and expects to seal some management contracts by the end of the year," it said.
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