Bangkok – The five-star Ascott Sathorn Bangkok, a serviced residence in the business district built at a cost of 2.6 billion baht (US$65 million including land), has officially opened.

Purpose-built as one of the company's flagship residences, the property features 177 suites, a 3,500m2 health centre, two restaurants and wireless connectivity throughout. Guestrooms include 50m2 superior and 58m2 deluxe studios, 68m2 one-bedroom superior, 75m2 one-bedroom deluxe, 97m2 one-bedroom premier, 106m2 two-bedroom superior, 123m2 two-bedroom deluxe and 167m2 three-bedroom suites.

All feature living and dining areas and fully-equipped kitchens, decorated in a modern minimalist style with a Chinese flair.

The health centre is one of the property's main selling points, featuring a spacious two-level workout room with more than 30 fitness machines, a 25m lap pool and a spa with private treatment rooms, steam, sauna and jacuzzi.

Restaurants include a Mediterranean bistro and a Chinese restaurant that transforms into a cocktail lounge in the evening.

The corporate market will be the primary target in Asia, but group managing director and CEO, Mr Cameron Ong, said the European market would include up to 30 per cent long-stay leisure travellers. "I expect many European guests, who initially come on business, will return with their families as leisure travellers."

The property was soft opened in May and has already achieved 65 per cent occupancy. Average length of stay is expected to be three months now the property is fully opened. Ascott is part owner of the property, along with Golden Land Development, the Indian company behind many Thailand properties including the Mayfair Marriott Executive Residences.

"We are pursuing a management/ownership model in Asia, sharing the burden of costs with land owners while giving us leverage to make major design and management decisions," Mr Ong said.