12 Mar
2004

Ascott Awarded First Position In China’s Prestigious ‘Top 100 Serviced Residences’ Ranking

The Ascott Group, a leading international serviced residence company, has won top position in the ‘China’s Top 100 Serviced Residences’ ranking, beating more than 1,000 contenders in the country.

The ranking is organised by the China Commercial and Residential Property Association, Qing Hua University Real Estate Research Institute and World Executive Institute Weekly magazine. It is based on evaluations from real estate experts and Internet votes. Ascott received the award for its top ranking at a ceremony in Beijing on February 28.

Ascott’s management arm, Ascott International, was ranked Number One for its professional management, branding and marketing of its eight serviced residences in Beijing, Shanghai, Dalian and Tianjin. The rating criteria also included the serviced residences’ location, facilities, ambience and service. The ‘China’s Top 100 Serviced Residences’ ranking is a category of the inaugural ‘China’s Top 500 Properties’ listing.

The Ascott Group operates more than 13,800 serviced residence units in 39 cities in 16 countries in Europe, Asia, Australia and New Zealand. In China, Ascott is the largest international serviced residence operator, managing more than 1,600 serviced apartments. Ascott is the serviced residence arm of CapitaLand Limited, one of Asia’s largest listed property companies.

Mr Eugene Lai, Ascott’s chief executive officer, said: “The top ranking is the result of our focus on achieving consistently high product and service standards and our extensive operational experience. Having pioneered the serviced apartment product in Asia 20 years ago, we are now delighted to be recognised as the leading serviced residence operator in China.”

He added that Ascott’s serviced residences help business executives and their families succeed in unfamiliar cities, and provide far more than accommodation. The residences offer guests a supportive community and organise activities to help them build networks, understand the culture and lifestyle, and enjoy family recreation.

Mr Yip Hoong Mun, Ascott’s managing director in China, said: “In the six years that Ascott has been operating in China, we have built up a wealth of experience, market knowledge and strong network of business partnerships. Our serviced residences in China are performing well. We will leverage our experience, relationships and success in China to grow further.”

Ascott targets to increase its portfolio in China to 4,000 serviced apartments by 2008, from its current 1,600 units. It plans to achieve this by operating more serviced residences in China’s secondary cities, and by rolling out a mid-tier serviced residence brand to cater to the growing segment of domestic business travellers in the country. Ascott opened its first mid-tier residence in China, the 100-unit Luxury Serviced Residence in Beijing, in August.

The group’s luxury-tier The Ascott serviced residence brand projects an elegant lifestyle appealing to top executives. Its upper-tier Somerset brand offers stylish, contemporary living for senior to upper management executives.

In Beijing, Ascott manages the 272-unit The Ascott Beijing, 221-unit Somerset Fortune Garden and mid-tier 100-unit Luxury Serviced Residence. In Shanghai, it operates the 248-unit The Ascott Pudong, 334-unit Somerset Grand Shanghai and 167-unit Somerset Xu Hui.

In China’s secondary cities, Ascott also manages the 169-unit Somerset Olympic Tower in Tianjin and 106-unit Somerset Harbour Court in Dalian.

Ascott’s serviced residences are located in or close to the central business district in each city. Each serviced apartment features a living / dining room separate from the bedroom, a fully-equipped kitchen, broadband Internet access and modern home entertainment system. Recreational facilities include a fitness centre and swimming pool, while business facilities include meeting rooms with videoconferencing equipment.

 


 

About The Ascott Group’s Serviced Residences In China 

In Beijing
The Ascott Beijing -- 272 units, Chaoyang district
The luxury-tier residence in the city's CBD is close to the China World Trade Centre. It features designer fittings and extensive facilities including an indoor glass-roofed pool, fully-equipped fitness centre, and business centre. Units range from elegant one-bedroom suites to four-bedroom penthouses.

Somerset Fortune Garden -- 221 units, Chaoyang district
Located in the business area of Chaoyang district, Somerset Fortune Garden is near international schools, embassies and entertainment centres. Facilities include a gym, indoor heated pool and residents' lounge. Units range from one to four-bedroom suites, with private balconies and scenic city views.

Luxury Serviced Residence - 100 units, Chaoyang district
Located in Beijing's prime Chaoyang residential district, the mid-tier residence is near Scitech Plaza and Friendship Store shopping malls, Silk Market, Tiananmen Square, Forbidden City and Jianguomen subway station. Facilities include a gym, sauna, business centre, and lounge. Units range from one to four-bedroom apartments.

In Shanghai
The Ascott Pudong -- 248 units, Pudong district
Boasting spectacular views of the Huangpu River, the luxury-tier The Ascott Pudong offers facilities such as a business centre, indoor heated pool, gym, sauna, indoor tennis court and residents' lounge. Units range from one to four-bedroom designer suites and elegant penthouses.

Somerset Grand Shanghai -- 334 units, Luwan district
Located along Huai Hai Zhong Road, Somerset Grand Shanghai is in the heart of Shanghai's main business, shopping and dining belt. Facilities include an indoor heated swimming pool and an international kindergarten. Units range from one to three-bedroom suites.

Somerset Xu Hui - 167 units, Xu Hui district
Situated in the Xu Hui residential estate, Somerset Xu Hui is close to shopping and entertainment facilities in Huai Hai Zhong Road and Xujiahui. Facilities include a gym, indoor heated pool, lounge and tennis court. It offers spacious one to three-bedroom suites.

In Dalian
Somerset Harbour Court - 106 units, Zhongshan district
Part of the prime Dalian Asia Pacific Finance Centre in the city's CBD, the residence is a stroll from Dalian harbour's passenger station and a five-minute drive from the railway station. Facilities include a gym, business centre and lounge. Units comprise one and two-bedroom suites.

In Tianjin
Somerset Olympic Tower - 169 units, Heping district
In the heart of Tianjin's prime upmarket shopping area and residential district, Somerset Olympic Tower is close to international schools and the Tianjin railway station. Facilities include an indoor heated pool, gym, rooftop garden and barbecue area. Units range from one-bedroom suites to four-bedroom penthouses.

 



The Ascott Group is a leading international serviced residence company with serviced residence units spanning the key cities of Europe, Asia, Australia and New Zealand.

Ascott's global presence comprises over 13,800 serviced residence units across 39 cities in 16 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; Sydney, Melbourne and Auckland in Australia and New Zealand; and Dubai in the Gulf region.

Headquartered in Singapore, The Ascott Group pioneered the Asia Pacific’s first branded luxury serviced residence in 1984. Today, it boasts a 20-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.

Headquartered in Singapore, CapitaLand’s core businesses in property, hospitality, property services and real estate financial services are focused in gateway cities in Asia, Australia and Europe. The company's hospitality businesses in hotels and serviced residences span more than 60 cities around the world. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services in Singapore and the region.

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

Ida Lim, VP, Investor Relations & Corporate Communications
Tel: (65) 6586 7230 Hp: (65) 9628 8339 Email: ida.lim@the-ascott.com

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