CapitaLand’s wholly-owned lodging business unit, The Ascott Limited (Ascott), has announced the opening of its fifth property in Ho Chi Minh City. The 198-unit Somerset D1Mension is located in Ho Chi Minh City’s District 1, known as the diplomatic and financial area and with a convenient and vibrant international lifestyle.
“Ascott’s commitment towards delivering consistent high-quality accommodation options and services have been recognized over our 35 years of hospitality excellence worldwide and 25 years of successful business in Vietnam,” said Ms. Lew Yen Ping, Country General Manager for Ascott Vietnam.
“Our properties in Vietnam have been performing well, with an average occupancy of above 80 per cent. We expect our strong growth momentum to continue in coming years and we will continue to seek innovative ways to improve our operations and enhance the customer experience. Ascott’s latest serviced residence, Somerset D1Mension, will offer travelers another international-class accommodation that they can call home.”
“Vietnam’s economy is expected to remain strong, with the Ministry of Planning and Investment forecasting growth of around 6 per cent, and around 8 per cent in Ho Chi Minh City in 2019 and 2020. Sound economic fundamentals will help attract more investment and increase visitor arrivals, which will in turn generate demand for our serviced residences. We will continue to expand our presence in Vietnam with the opening of PentStudio West Lake Hanoi this year, Citadines Pearl Hoi An early next year, and Citadines Marina Ha Long City.”
“Three more properties are slated to open in 2021 - Ascott Centennial Saigon, Somerset Feliz, and Somerset Danang Bay. Ascott will further expand via management contracts in gateway cities. With this momentum, we have exceeded our Vietnam portfolio target of 7,000 units one year early.”
Ideal for guests relocating or on a business or leisure trip, Somerset D1Mension has from one- to four-bedroom apartments and penthouse units that can accommodate from two people to a group of eight, enabling travelers to choose an ideal residence for their lifestyle.
The stylish apartments come with contemporary décor, modern fittings, a fully-equipped kitchen, a home entertainment system, and wi-fi. Travelers can enjoy a leisurely swim in the property’s pool, work out in the gymnasium, relax at the jacuzzi and residents’ lounge, or discover Ho Chi Minh City through residents’ programs. The serviced residence also offers a playground and indoor playroom for children.
With Somerset D1Mension’s strategic location, business and leisure travelers can discover Vietnam’s historical and diverse cultural attractions through clusters of museums and endless hotspots in District 1.