Serviced apartment operator Ascott International Management Pte Ltd, a member of CapitaLand, expects to more than double the number of rooms it manages in Malaysia by 2016.

It now manages five properties with a total of 705 units and is scheduled to launch four new ones until 2016.

Apart from the Ascott brand (which is comparable to a five-star hotel), the group operates Somerset (four stars) and Citadines (between three and four stars).

The new openings include the 215-unit Citadines Uplands Kuching which is scheduled to open in the first half of 2012 and the 143-unit Ascott Sentral Kuala Lumpur in 2013.

Regional general manager for Singapore and Malaysia Tan Boon Khai said in an interview recently that its strategy for Malaysia is to build up scale and room inventory.

"Thus far, based on our upcoming properties, we are doing well and we see opportunities in Malaysia as tourism numbers are up," Tan said.

"In 2014, we can welcome Citadines D'Pulze Cyberjaya with 232 units and Somerset Damansara Uptown, Petaling Jaya, in 2016."

Tan said that Ascott sees potential particularly for its Somerset and Citadines brands. "We see Penang, Johor, Bintulu and Miri have potential for our brands," he added.

Tan would like to introduce Citadines, which is described as modern and vibrant, within the Bukit Bintang and Shah Alam area in Kuala Lumpur and Selangor respectively.

He said that apart from management contracts, it is keen to invest further in serviced apartments in Malaysia.

"We are looking for investments. We see Malaysia as a significant market for us. Malaysia has shown good growth."

In fact, Ascot would consider buying the property it manages should the owner or developer decide to sell.

Currently, it wholly owns the 207-unit Somerset Ampang and the 96-unit Somerset Seri Bukit Ceylon in Kuala Lumpur. It also has a 50 per cent plus one share in Ascott Kuala Lumpur. – Business Times