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Ascott acquires The Domain Hotel in Silicon Valley for $81.5 mil

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Ascott acquires The Domain Hotel in Silicon Valley for $81.5 mil

PC Lee Published on Thu, Oct 19, 2017 / 7:25 AM GMT+8

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SINGAPORE (Oct 19): The Ascott is investing $81.5 million to acquire and refurbish The Domain Hotel, in Silicon Valley, California.

The 136-unit hotel will continue to operate as it undergoes refurbishment in phases before being rebranded to Citadines Cupertino Sunnyvale in 4Q18.

CapitaLand's serviced residence business unit says this will allow it to capture the fast-growing demand from global technology companies and multinational corporations.