08 Sep

Ascott Is First To Offer 'Best Rate Guarantee' In The Serviced Residence Industry

Singapore, 8 September 2010 – CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott) has launched a 'Best Rate Guarantee' initiative, promising the lowest publicly available Internet rate each time a guest makes a booking through any of Ascott's websites. This is the first time such a programme has been offered in the serviced residence industry.

Guests can now be confident of obtaining the best rate each time a reservation is made through any of Ascott's three brand websites – Ascott (www.the-ascott.com), Somerset (www.somerset.com) and Citadines (www.citadines.com).

If a guest finds a lower rate for the same property, apartment type and reservation dates on another website within 24 hours of their confirmed booking made on Ascott's website, upon verification, Ascott will honour the lower rate found and extend a further 10% discount off that rate.

Mr Tony Soh, Chief Corporate Officer of The Ascott Limited, said: “As the leading international serviced residence owner-operator, Ascott constantly finds new ways to enhance our customers' experience. Being the first in the industry to guarantee the best rates on our websites is another demonstration of Ascott's strong commitment to our customers. With Ascott's 'Best Rate Guarantee', our guests will enjoy peace of mind when they make their online bookings directly with us.”

Ascott's 'Best Rate Guarantee' initiative is applicable for daily Internet rates and stays that are less than a total of 30 nights. For more information, please visit: www.the-ascott.com/best_rate_guarantee.html.

About The Ascott Limited

The Ascott Limited is the world's largest international serviced residence owner-operator with over 20,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 26,000 units.

The company operates three brands – Ascott, Somerset and Citadines. Its portfolio spans over 70 cities across more than 20 countries, 14 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. It also established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 26-year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include TTG China Travel Awards 2010 'Best Serviced Residence Operator in China', DestinAsian Readers' Choice Awards 2010 'Best Serviced Residence in Asia Pacific', TTG Travel Awards 2009 'Best Serviced Residence Operator', Business Traveller UK Awards 2009 'Best Serviced Apartment Company' and Business Traveller Asia Pacific Awards 2009 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia Pacific'.

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 in 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

Jasmine Sim, Assistant Manager, Corporate Communications

Tel: (65) 6500 3404   

HP: (65) 9686 2859   

Email: jasmine.sim@the-ascott.com