{"id":1004162401,"date":"2016-12-22T06:04:12","date_gmt":"2016-12-22T14:04:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004162401"},"modified":"2022-12-04T01:13:29","modified_gmt":"2022-12-04T09:13:29","slug":"ascott-expands-european-portfolio-with-57m-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ascott-expands-european-portfolio-with-57m-buy\/","title":{"rendered":"Ascott Expands European Portfolio with $57M Buy"},"content":{"rendered":"<p><em>By Mihaela Coste<\/em><\/p>\n<div id=\"attachment_1004162402\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Temple-Bar-Hotel-Dublin-e1482415173302.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004162402\" data-attachment-id=\"1004162402\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ascott-expands-european-portfolio-with-57m-buy\/temple-bar-hotel-dublin\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Temple-Bar-Hotel-Dublin-e1482415173302.jpg\" data-orig-size=\"800,534\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;7.1&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D800&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1407968015&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;16&quot;,&quot;iso&quot;:&quot;1250&quot;,&quot;shutter_speed&quot;:&quot;0.6&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Temple Bar Hotel, Dublin\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Temple Bar Hotel, Dublin&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Temple-Bar-Hotel-Dublin-e1482415173302.jpg?w=800\" class=\"wp-image-1004162402 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/Temple-Bar-Hotel-Dublin.jpg\" alt=\"Temple Bar Hotel, Dublin\" width=\"300\" height=\"200\" \/><\/a><p id=\"caption-attachment-1004162402\" class=\"wp-caption-text\">Temple Bar Hotel, Dublin<\/p><\/div>\n<p><strong>Dublin<\/strong>\u2014The Ascott Ltd., CapitaLand\u2019s wholly owned serviced residence business unit, has recently announced that it has expanded its global footprint by acquiring a 136-key hotel in Dublin. The Temple Bar Hotel was acquired by the Singapore-based company for a price tag of $57.2 million (EUR 55.1 million).<\/p>\n<p>Located at 13-17 Fleet St. within Temple Bar, the vibrant cultural heart of Dublin\u2019s city center, the hotel is situated in close proximity to museums, boutiques, restaurants, galleries and attractions, including the famous Guinness Storehouse and Jameson Distillery. The property\u00a0is also located within walking distance of the International Financial Services Centre, which\u00a0houses more than 500 companies. The building&#8217;s\u00a0central location offers convenient access to Grafton and Henry streets, the two main shopping corridors in Dublin. Major event facilities such as the Convention Centre Dublin, the 3Arena and Aviva Stadium are also nearby. The four-story property features its own brasserie-style restaurant and free Wi-Fi access.<\/p>\n<p>According to Alfred Ong, Ascott\u2019s managing director for Europe, the hotel&#8217;s occupancy for the last few months stands at 80 percent. The company is already planning a rebranding process. \u201cThis acquisition brings Ascott\u2019s portfolio in Europe to more than 5,400 units in 45 properties across 19 cities in Belgium, France, Georgia, Germany, Ireland, Spain and the United Kingdom,\u201d Ong added in a prepared statement.<\/p>\n<p>\u201cEurope is a key market for Ascott\u2019s global expansion. Ireland\u2019s pro-business environment has attracted some of the world\u2019s biggest companies, such as Google, Facebook, Microsoft and LinkedIn to establish their European headquarters in Dublin. Ireland is also used as a launch pad to the European Union by many U.S. companies and U.S. is amongst Ascott\u2019s top source markets globally. Ascott\u2019s entry into Ireland will cater to this rising demand for accommodation by corporate and leisure travelers. The acquisition will boost Ascott\u2019s EUR 1.2 billion ($1.24 billion) portfolio in Europe and bring us closer to our target of 10,000 units in the region by 2020,\u201d said Lee Chee Koon, CEO of Ascott, in prepared remarks.<\/p>\n<p><em>Image courtesy of Dublinpubs<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located in the heart of Dublin, the 136-key Temple Bar Hotel features its own brasserie-style restaurant.<\/p>\n","protected":false},"author":1192,"featured_media":1004162402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,16,21742],"tags":[],"class_list":["post-1004162401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-international","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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