Market Chatter: CapitaLand's Ascott Plans to Expand Presence Around Tokyo Station in Japan

MT Newswires10-16 10:37

Ascott, a wholly-owned subsidiary of CapitaLand Investment (SGX:9CI), is planning to expand its presence around Tokyo Station in Japan to cater to the rise in foreign tourists in Japan, Nikkei Asia reported on Thursday, citing Christian R. Baudat, Ascott Japan's country general manager.

In an interview with Nikkei Asia, Baudat said the Singapore-based serviced residence operator aims to offer accommodation of various room sizes and hospitality brands to capture the strong tourist demand in Japan, which it sees as a growth market.

The company recently disclosed its plans to open a new serviced apartment in the Yaesu district under its upscale premium Oakwood Premier brand in 2029, in partnership with Japanese property developer Mitsui Fudosan Group.

On the opening of Oakwood Premier in Yaesu and another project under development in 2029, Ascott will have six hotels within walking distance of Tokyo Station, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Baudat, Ascott Japan's country general manager.</p><p>In an interview with Nikkei Asia, Baudat said the Singapore-based serviced residence operator aims to offer accommodation of various room sizes and hospitality brands to capture the strong tourist demand in Japan, which it sees as a growth market.</p><p>The company recently disclosed its plans to open a new serviced apartment in the Yaesu district under its upscale premium Oakwood Premier brand in 2029, in partnership with Japanese property developer <a href=\"https://laohu8.com/S/MTSFF\">Mitsui Fudosan</a> Group.</p><p>On the opening of Oakwood Premier in Yaesu and another project under development in 2029, Ascott will have six hotels within walking distance of Tokyo Station, the report said.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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