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Ascott Celebrates 30 Years Of Hospitality Excellence

March 17, 2014 Hotel News No Comments Email Email

CapitaLand’s wholly-owned serviced residence unit, The Ascott Limited (Ascott), continues to extend its global footprint as it kicks off its 30th anniversary celebrations with special promotions for its customers that include discounted rates and free nights.

Ascott, which pioneered Asia-Pacific’s first international-class serviced residence in 1984, has secured contracts to manage its first property in Myanmar, Somerset Kabar Aye Yangon, and its third property in Wuhan, Somerset Zhuankou Wuhan. In addition, Ascott has opened its first property in Frankfurt, Citadines City Centre Frankfurt and will open Ascott Sentral Kuala Lumpur on 21 March 2014 and Ascott Midtown Suzhou in April 2014. unnamed (7)

Starting from one property each in Singapore (The Ascott Singapore on Scotts Road) and France (Citadines La Défense Paris), Ascott has grown to become the world’s largest international owner-operator of serviced residences, with about 34,000 apartment units in 231 properties.  Voted the ‘World’s Leading Serviced Apartment Brand’ at the prestigious World Travel Awards 2013, Ascott’s three award-winning brands of serviced residences – Ascott The Residence, Citadines Apart’hotel and Somerset Serviced Residence, provide a home away from home for expatriates and travellers in 83 cities across 23 countries in Asia Pacific, Europe and the Gulf region.

Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “As Ascott celebrates 30 years of successful business, we would like to thank all our customers for their unwavering support. In 2013 alone, we had over one million stays, of which a significant percentage was from repeat guests and we look forward to their continued support. To enable our guests to enjoy the comforts of home in more destinations, we plan to open 58 properties across 12 countries by 2018, of which about 20 properties are scheduled to open this year.”

He said: “We would also like to thank our employees for their dedication, key executives who pioneered and helped to grow Ascott over the years, as well as our Board members and management for their stewardship. Ascott’s focus this year is to seek investment opportunities in key markets where we have presence like Singapore, China, India, capital cities in Southeast Asia, Paris, London and key cities in Germany. We will also expand through management contracts and strategic alliances to achieve our target of 40,000 apartment units globally by 2015 and to strengthen Ascott’s position as the global serviced residence leader.”

Mr Lee added: “At Ascott, we are committed to continuous innovation and going the extra mile to provide our customers the best experience. Since our refurbishment programme started in 2010, we have invested close to S$100 million to renovate 20 properties. Ascott will spend another S$200 million to enhance 29 more properties by 2016. To celebrate Ascott’s 30th anniversary, we would like to reward our customers and continue to give back to the communities as we look forward to the next 30 years and more.”

Ascott’s 30th anniversary offers for customers

To commemorate the milestone occasion and show appreciation to its customers, Ascott is offering the following special promotions for stays from 1 April till 31 December 2014:

  • For Ascott’s online members, enjoy at least 30% off Best Flexible Rates in over 30 cities 

Ascott’s online members will enjoy at least 30% off Best Flexible Rates at participating properties in over 30 cities worldwide. Simply log in or sign up for the complimentary Ascott online membership at www.the-ascott.com/en/myascott/signup.html to enjoy the special rates.

  • For guests on long stays, enjoy one free night for every 30 consecutive nights’ stay 

Guests who make bookings of 30 consecutive nights or more will receive a complimentary night for every 30 consecutive nights of stay. Guests can redeem their free nights at any Ascott property worldwide.

  • Refer friends and associates and be rewarded 

In-house guests who refer their friends or business associates to stay at Ascott’s serviced residences for a minimum of 30 nights will be rewarded with cash vouchers redeemable for complimentary stays at any Ascott serviced residence worldwide.

  • Ascott’s The Link Club members enjoy 30% off redemption points 

Corporate clients who are members of Ascott’s rewards programme, The Link Club, can get 30% off redemption points between 1 April and 30 September 2014, where they will enjoy privileges such as dining, shopping and travel.

For more information on Ascott’s 30th anniversary initiatives, please visit                  www.the-ascott.com/30year. 

Ascott’s Milestones 

Ascott pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984.  In the same year, Citadines, which was one of Europe’s largest chains of serviced residences, also opened its first apart’hotel, Citadines La Défense Paris, in France.

In 1998, Somerset International, which managed serviced residences, was set up. In 2000, Ascott merged with Somerset International to form Asia Pacific’s largest serviced residence company, with over 6,000 serviced residence units in 16 cities and 10 countries.

Ascott further acquired 50% of Citadines in 2002 and the remaining 50% in 2004. This boosted Ascott’s portfolio by another 5,000 apartment units, increasing its inventory then from over 8,000 to over 13,000 in 39 cities across 16 countries. The company now owns three brands – Ascott, Citadines and Somerset.

Ascott’s global footprint expanded to 17 countries with the opening of Somerset Palace Seoul, South Korea’s largest serviced residence in 2005.

In 2006, Ascott brought the Citadines brand to Asia with its first Citadines-branded property in Shanghai as there was a growing group of independent and savvy travellers who wanted the flexibility to pay for the services they require. Besides opening its first serviced residence in the Gulf region and expanding to India with its Somerset brand during the year, Ascott also established Ascott Residence Trust (Ascott Reit), the world’s first pan-Asian serviced residence REIT, which was listed on 31 March 2006 in Singapore.

In 2007, Ascott launched the Ascott China Fund, the first private equity fund dedicated to investing in serviced residences across China.

In 2008, Ascott became a wholly-owned subsidiary of CapitaLand, one of Asia’s largest real estate companies. Ascott also opened its flagship serviced residence in Singapore, Ascott Raffles Place, which was transformed from Asia Insurance Building, formerly Southeast Asia’s tallest building in the 1950s.

In 2010, Ascott announced its target to have 40,000 apartment units globally. Ascott also injected 28 quality stabilised assets in Europe and Asia into Ascott Reit with divestment proceeds of S$974 million. This move gave Ascott the financial capacity to capture new growth opportunities and transformed Ascott Reit into a larger and stronger platform which complements Ascott’s global growth strategy.

In 2013, Ascott crossed its milestone of having 10,000 apartment units in China and launched its first branded residence in the country for strata sale. Ascott further widened its global reach to include the United States through a marketing partnership with AKA, a luxury brand of serviced residences.

In 2014, as Ascott celebrates its 30th anniversary, it expanded its global footprint to 83 cities across 23 countries by securing the contract to manage its first property in Myanmar, Somerset Kabar Aye Yangon. Besides securing its third property in Wuhan, Somerset Zhuankou Wuhan, Ascott also opened its first property in Germany, Citadines City Centre Frankfurt, and will open Ascott Sentral Kuala Lumpur on 21 March 2014 and Ascott Midtown Suzhou in April 2014.

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