The Ascott Limited, a leading serviced apartments group, will more than triple its units in the GCC in the next two years, a growth of more than 40 per cent per year.

The group is capitalising on the GCC’s increasing demand for international branded serviced apartments as the region's tourism sector continues to grow.

GCC countries are seeing an influx of additional expatriates, due to the fast-paced development of their economies and the massive infrastructure projects under development.

"This year we will open Ascott Sari, Ascott Tahlia and Citadines Al Salamah in Jeddah, Saudi Arabia, and Somerset Panorama Muscat, Oman. Next year will see the launch of Ascott Olaya Riyadh and Somerset Corniche in Jeddah, Saudi Arabia; Ascott Culture Village Dubai in UAE; and Somerset Maslak Istanbul in Turkey will be operational. We will add a total of 1,406 keys to our portfolio by 2016," said Vincent Miccolis, area general manager, The Ascott Limited - GCC.

UAE remains the tourism leader in the Middle East; however Saudi Arabia, Qatar and Oman are witnessing large tourism transformations on the back of iconic mega developments and ambitious long-term economic and tourism development strategies. Average room rates and occupancy levels across some of the region's cities continue to rank among the highest in the world, while infrastructure developments, multi-million dollar projects and winning bids for hosting major world events continue to fuel growth in the regional hotel sector.

The Ascott Limited currently manages Ascott Park Place Dubai (UAE), Ascott Doha and Somerset West Bay Doha (Qatar) and Somerset Al Fateh in Bahrain. – TradeArabia News Service