SINGAPORE - Mainboard-listed CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited, has opened its 112-unit Citadines Suites Arc de Triomphe Paris along the Avenue Kléber after a €26 million (S$39.84 million) facelift.
It is Ascott's second serviced residence under the upscale Citadines Suites label following the opening of Citadines
Suites Louvre Paris, recently named one of the top 25 luxury hotels in France at TripAdvisors' Travellers' Choice Awards.
Located between the famed Champs-Elysées and Place du Trocadéro, Citadines Arc de Triomphe Paris is in the heart of the central business district, close to luxury boutiques, monuments and museums.
Said Mr Alfred Ong, Ascott's managing director for Europe: "With the opening of Citadines Suites Arc de Triomphe, guests can now choose from our 43 properties with over 5,000 apartment units across 19 cities in Europe."
Mr Ong added: "Since Ascott acquired the Citadines apart'hotel chain in 2002, it has grown to be one of the largest Singapore companies to invest in the hospitality industry in France."
"By end 2016, we would have invested €125 million to refurbish 33 properties in Europe. We will continue to deepen Ascott's growth in gateway cities where we have presence such as Paris, London, Hamburg and Munich, as well as explore new opportunities to achieve Ascott's target of 80,000 apartment units globally by 2020."