04 Aug
2003

Ascott Co-Sponsors Donation Of Thermal Scanners To Vietnam

The Ascott Group, an international serviced residence company, is a co-sponsor in the Temasek Group of companies’ goodwill donation of two thermal scanners to Hanoi and Ho Chi Minh City in Vietnam.

Temasek Holdings and six other Singapore companies are donating the scanners as part of their ongoing initiative to forge closer relationships with other Asian economies.

Ascott is the largest international serviced residence company in Asia Pacific and Europe, with more than 13,500 serviced apartments in 38 cities. It is the serviced residence arm of CapitaLand Limited, one of the largest listed property companies in Asia.

In Vietnam, Ascott is the leading international serviced residence chain with over 560 operational serviced residence units in Hanoi and Ho Chi Minh City.

Mr Eugene Lai, the group’s chief executive officer, said: “Ascott is committed to contributing towards the growth of Vietnam’s economy. As a pioneer and leading player in the country’s serviced residence industry, we see a vibrant future for its hospitality sector.

“Vietnam’s pro-business policies, concerted development of its infrastructure and further opening up of its economy, have drawn more multinational companies to set up offices and plants. More foreign corporate executives living and doing business in its major cities, will spur increased demand in the serviced residence industry.

“The SARS outbreak and reduction in corporate travel from March to May, affected the occupancies at our serviced residences. But the health authorities’ astute management of the outbreak ensured the impact was short and shallow. Our occupancies, at over 90 per cent today, have recovered and exceeded our pre-SARS occupancy levels.”

In June, Ascott was also a co-sponsor of an earlier contribution of two thermal scanners to Shanghai by Temasek Holdings and several Singapore companies.

Ascott’s Residences in Vietnam

In Hanoi, Ascott operates the 185-unit Somerset Grand Hanoi and 60-unit Somerset West Lake serviced residences. In Ho Chi Minh City, it manages the 165-unit Somerset Ho Chi Minh City and 151-unit Somerset Chancellor Court.

Somerset Grand Hanoi was awarded the "Best Service for Serviced Apartments” in the Vietnam Economic Times’ Guide Awards 2002. The city’s tallest serviced residence is close to the prime shopping area at Hai Ba Trung Street, and offers one to three-bedroom suites. Somerset West Lake offers scenic lake views close to Central Hanoi. Its units range from one to four-bedroom suites.

In Ho Chi Minh City, Somerset Chancellor Court, at Nguyen Thi Minh Khai Street, is next to the city’s diplomatic and prime commercial areas. The residence comprises one to four-bedroom suites. Somerset Ho Chi Minh City in District One is in the heart of the city and offers two to four-bedroom suites.

 


 

ABOUT THE ASCOTT GROUP

The Ascott Group is a leading international serviced residence company with serviced residence units spanning the gateway cities of Europe, Southeast Asia, North Asia and Australasia.

Ascott's global presence comprises 13,500 serviced residence units in more than 110 properties across 38 cities in 15 countries. These cities include London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Ho Chi Minh City, Kuala Lumpur, Tokyo, Shanghai and Beijing in Asia; and Sydney, Melbourne and Auckland in Australasia.

Headquartered in Singapore, The Ascott Group pioneered the Asia Pacific's first branded luxury serviced residence in 1984. Today, it boasts a 19-year industry track record and serviced residence brands that enjoy strong recognition worldwide.

The Group's flagship The Ascott luxury serviced residence brand projects an elegant lifestyle appealing to top executives. Its Somerset upper-tier brand offers stylish, contemporary living for senior to upper management executives. The mid-tier Oakford brand in Australia and Citadines brand in Europe provide corporate executives with comfortable city residences.

Listed on the mainboard of the Singapore Exchange, the Group is the serviced residence arm of CapitaLand Limited, one of the largest listed property companies in Asia.

For reservations on Ascott properties, call Central Reservations on (65) 6272-7272 or visit the Group's website at www.the-ascott.com.

 

 

Tay Cheng Cheng, Assistant Manager, Investor Relations & Corporate Communications
Tel: (65) 6586 7231 Hp: (65) 9010 0627 Fax: (65) 6586 7202
Email: tay.chengcheng@the-ascott.com

Betsy Tan, Executive
Tel: (65) 6586 7234 Hp: (65) 9641 6920 Fax: (65) 6586 7202
Email: betsy.tan@the-ascott.com