12 May

Ascott Appoints New Country General Manager To Strengthen Its Lead In Thailand

Bangkok, 12th May 2011 - CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has appointed Mr Mark Chan as its new Country General Manager for Thailand with effect from 1 May 2011. Mr Chan will oversee Ascott’s operations and grow its serviced residence business in Thailand.

Mr Alfred Ong, Ascott’s Managing Director for Southeast Asia & Australia, said: “Ascott has maintained our pole position as the largest international serviced residence owner-operator in Thailand despite the global financial crisis and domestic political challenges. We currently have over 1,500 apartment units in eight properties in Bangkok and we will continue to look for opportunities to strengthen Ascott’s lead in Thailand. Mark has a wealth of experience in strategic investments and asset management. He is well-positioned to drive Ascott’s growth in Thailand.”

Mr Chan has been with Ascott since May 2010 as Senior Vice President, Business Development & Asset Management. In his previous role, he supported Ascott’s Corporate Business Development in identifying new opportunities to expand Ascott’s portfolio through investments and management contracts. Mr Chan has more than 20 years of work experience in banking and investment. He has worked in several international and local banks including OCBC, HSBC, ANZ and UBS bank in Singapore.

Mr Chan said: “I look forward to working with the team in Thailand to expand Ascott’s presence in the country. Besides building upon our strong portfolio of properties in Bangkok, we will seek opportunities to extend Ascott’s footprint to key cities such as Pattaya, other cities in the Eastern Seaboard area and Phuket. With Ascott’s proven expertise in managing award-winning serviced residences around the world, we are confident that Ascott will continue to offer the perfect home away from home for global travellers on both short and long visits to Thailand.”

Ascott offers three distinct brands of serviced residences – Ascott, Citadines and Somerset – which cater to travellers’ different lifestyles. Travellers can choose from Ascott’s eight international-class serviced residences which are all in prime locations. They are Ascott Sathorn, Citadines Sukhumvit 8, Citadines Sukhumvit 11, Citadines Sukhumvit 16, Citadines Sukhumvit 23, Somerset Lake Point, Somerset Park Suanplu and Somerset Sukhumvit Thonglor.

About The Ascott Limited

The Ascott Limited is the world's largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 5,000 units which are under development, making a total of more than 27,000 units. The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across 20 countries, 13 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world’s first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers’ Choice Awards 2011 ‘Best Serviced Residence in Asia Pacific’, TTG China Travel Awards 2011 ‘Best Serviced Residence Operator in China’, Business Traveller UK Awards 2010 ‘Best Serviced Apartment Company’, Business Traveller Asia-Pacific Awards 2010 ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence in Asia-Pacific’ and TTG Travel Awards 2010 ‘Best Serviced Residence Operator’.

About CapitaLand Group

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company’s core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company’s real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.


Joan Tan, Assistant Vice President, Corporate Communications

Tel: (65) 6500 3401   

HP: (65) 9743 9503   

Email: joan.tan@the-ascott.com


Ngeow Shang Lin, Executive, Corporate Communications

Tel: (65) 6500 3403   

HP: (65) 9877 6305   

Email: ngeow.shanglin@the-ascott.com