Over US$1.2 billion investment earmarked to develop Citadines brand

Pictured: rendering of Citadines North Walker Sydney.
Citadines, the aparthotel brand of CapitaLand Investment Limited’s The Ascott lodging business, will welcome at least US$1.2 billion worth of new sites, according to calculations from the THP database.

Last September, The Ascott noted there were 80 Citadines properties under development throughout 56 global cities, and currently THP has records of 68 projects comprising 12,597 keys.

On target

The four star extended stay brand will be a key element of The Ascott’s aim to surpass 160,000 keys across its lodging division by the end of this year, with the operational total standing at 155,500 as at the end of Q3 2022.

According to THP, at least 27 Citadines aparthotels comprising 5,026 keys will arrive this year, while another 24 projects, equating to 4,282 keys will come online in 2024. Just six sites are currently scheduled for 2025 and three for 2026, with the remaining eight either due further in the future or have yet to be designated a delivery date.

Brand refresh

In 2022, The Ascott initiated a brand refresh for Citadines, which means ‘city dwellers’ in French. Aimed at travellers who seek quality city living, offering the comfort of a serviced residence combined with the flexibility of a hotel, the repositioned brand is anchored upon the commitment to provide guests with the best of city living while inspiring them to live, work and play in many ways.

The updated Citadines brand, with a tagline of ‘for the love of cities’ seeks to consistently curate unique experiences and service offerings that best meet the needs of its guests.

Abiding Asia

The strand will be continuing its Asian focus, with a massive 84% of the pipeline, representing 57 projects, heading to the continent.

At least five sites are planned for both Europe and Africa, with just one for Oceania.

Chinese lead

China remains at the top of the country count, with at least 21 aparthotels scheduled to join the portfolio.

Southeast Asian nations are next on the list, with the Philippines as the runner up on nine sites and Malaysia close behind on seven.

In terms of individual cities, China’s Chengdu and Guangzhou, the Philippines’ capital Manila and Thailand’s Pattaya top THP records on three upcoming hotels apiece.

Prospective projects

One of the scheduled 2023 arrivals, and the only project currently slated for Oceania is Citadines Walker North Sydney. The Australian site will offer 252 apartments and facilities including a restaurant, meeting rooms, business centre, executive lounge, gymnasium and end-of-trip amenities. The serviced residence will be part of a 48-storey integrated development which also has office and retail components including a rooftop bar.

An Asian addition will be Citadines Waterfront Kota Kinabalu, also due to open by the end of this year. The Malaysian property will feature 253 keys across a range of studios, one-, two- and three-bedroom apartments that come with a fully-equipped kitchen. Amenities will include a swimming pool, children’s play pool, gymnasium, roof garden, lounge and meeting facilities.