Ascott has strengthened its position as the largest serviced residence operator in Southeast Asia with the clinching of seven new management contracts, adding over 1,500 apartment units to its portfolio.

The new ventures branch into Thailand, Vietnam, Malaysia and Indonesia, as demand for serviced residences heats up.

Southeast Asia, with 15,000 units across 80 properties, represents Ascott’s fastest growing market after China, underpinned by rapid urbanisation, a large young population and rising domestic consumption across both business and leisure travellers.

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