SINGAPORE (Feb 7): The Ascott Limited, CapitaLand’s wholly owned lodging unit, says its La Clef Champs-Élysées Paris in France is now open for business.

This marks the group’s third property under The Crest Collection, a selection of prestigious and unique luxury serviced apartments.

The entrance to La Clef Champs-Élysées Paris is on Rue de Bassano, a few minutes from many of the French capital’s most sought-after attractions, including the Arc de Triomphe, Eiffel Tower, Grand Palais, Théâtre du Rond-Point and the famous Avenue des Champs-Élysées.

The La Clef Champs-Élysées Paris is housed in a five-storey Haussmannian-style building, which was built in 1907 as a private residence by renowned cognac distillers – the Hennessy family. The group has decided to preserve the Haussmann-era mouldings and contemporary touches.

Lee Ngor Houai, Ascott’s managing director for Europe, says, “At the new La Clef Champs-Élysées Paris, which took us two years to conserve and enhance, our guests will feel at home and be able to experience the Parisian life, culture and history in a unique luxury residence.”

“Ascott has established a presence in Europe with 48 properties and over 5,900 lodging units including more than half of them in France. We have recently announced a new franchised Citadines property in Amsterdam – Citadines Sloterdijk Station Amsterdam that will open this March; two other franchised Citadines properties are scheduled to open in Nantes and Strasbourg in 2019 and 2020. We aim to increase our presence in Europe to 10,000 units across 100 properties by 2023 through acquisitions of turnkey developments or existing buildings which Ascott can convert into lodging, management contracts and franchises,” adds Lee.

See: Ascott secures contracts for 26 properties, boosting portfolio to over 100,000 units

As at 3.20pm, shares in CapitaLand are trading at 1.51% higher at $3.37.


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