The Ascott Limited revealed a new brand, Tujia Somerset, which will cater to the middle-class Chinese traveler. The serviced residences are scheduled for six locations and will add 1,005 units. Two of the properties are already in operation, with the remaining four to follow.

“China’s middle class is estimated to make up over 70 per cent of its 1.39 billion population by 2030, consuming nearly $10 trillion in goods and services — these are potential guests for Tujia Somerset,” said Kevin Goh, managing director, North Asia, The Ascott Limited. “Ascott’s current three brands cater to the top tier of the serviced residence market in China, generally targeting customers with rental budgets of above RMB 10,000 per month. Our Tujia Somerset brand of serviced residences will primarily cater to the burgeoning mass market segment in China, focusing on overseas and local expatriates as well as corporate travelers with budgets in the region of RMB 10,000 per month or lower. Guests at Tujia Somerset can enjoy services such as housekeeping and breakfast at great value.”

The new effort is in conjunction with Tujia, similar to Airbnb. Tujia caters to travelers in major regional destinations such as Beijing, Bangkok, Singapore and Tokyo who desire alternative accommodations.