24 Jan

Ascott Launches New Marketing Partnership With Krisflyer

The Ascott Group, a leading international serviced residence company, has launched a marketing partnership with Singapore Airlines’ Krisflyer to reward its guests with Krisflyer miles.

The partnership is the first of its type between an international serviced residence company and Singapore Airlines’ Krisflyer. Guests who check in at the group’s The Ascott and Somerset serviced residences in Singapore, Australia, New Zealand, China, Philippines and Thailand will receive 150 Krisflyer miles for each night of their stay. Residences in more countries will be added to the programme over the next few months.

Ascott’s marketing programme with Krisflyer is unique as it is the only accommodation company to reward its customers on a per night rather than on a per stay basis. This is in line with the group’s business model which targets longer stay customers.

Mr Cameron Ong, Ascott’s chief executive officer, said: "As the first international serviced residence chain to offer this scheme, we had designed the programme to incentivise our residents to stay longer.

"This partnership with Singapore Airlines’ Krisflyer will give us greater penetration of the top executives from multinational companies travelling and working around the world. As an international operator with serviced residences in 40 cities in 17 countries, the partnership with Krisflyer is mutually beneficial and enables us to make cross country business assignments and relocations more seamless."

Mr Ong added that this follows current trends where more corporate executives are being sent on cross-border business assignments, and they choose to stay at serviced residences.

The Ascott Group operates more than 13,800 serviced apartments in 40 cities in 17 countries across Asia, Europe, Australia and New Zealand. Ascott is the serviced residence arm of CapitaLand Limited, one of Asia’s largest listed property companies.

About The Ascott Group

The Ascott Group is a leading international serviced residence company with 13,800 serviced residence units in the key cities of Europe and Asia Pacific.

Ascott's global presence spans 40 cities in 17 countries. These include London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai and Beijing in Asia; Sydney and Auckland in Australia and New Zealand; and Dubai in the Gulf region.

Through its marketing alliance with Equity Corporate Housing, the group also offers upper-tier serviced apartments throughout the US. Headquartered in Singapore, The Ascott Group pioneered the Asia Pacific's first branded luxury serviced residence in 1984. Today, it boasts a 21-year industry track record and serviced residence brands that enjoy 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 Citadines brand provides corporate executives with comfortable city residences.

Recent awards the group has clinched include the 2004 Business Traveller Best Serviced Residence Brand and Best Serviced Residence property in Asia Pacific awards. The group took the Number One position in the 2004 China's Top 100 Serviced Residences ranking for its eight properties in China. Ascott also won the 2004 Vietnam Economic Times' Best Service in Serviced Apartments awards in Hanoi and Ho Chi Minh City, and Best Annual Report and Best Operating & Financial Review awards at the 2004 Singapore Annual Report Awards.

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

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



Ida Lim, VP, Investor Relations & Corporate Communications

Hp: (65) 9628 8339

Email: ida.lim@the-ascott.com

Lilian Goh, Manager

Hp: (65) 9795 5225

Email: lilian.goh@the-ascott.com