27 Apr

Ascott Presented With 'Innovative Capital Venture' Award At The 2006 China Hotel Investment Summit In Shanghai

Shanghai, China, 27 April 2006 - The Ascott Group (Ascott) was presented with the ‘Innovative Capital Venture’ award today at the 2006 China Hotel Investment Summit (CHIS) in Shanghai, China. Ascott was recognised for its pioneering spirit and innovativeness demonstrated through the successful listing of the first pan-Asian serviced residence real estate investment trust, ‘Ascott Residence Trust’ (ART) on 31 March 2006.

“My team and I are honoured to have won this prestigious award. Ascott is a pioneer in the serviced residence industry; we have built a strong record of more than two decades of management and service excellence. We launched Ascott Residence Trust, the first pan-Asian serviced residence real estate investment trust (REIT) as a demonstration of our commitment to unlock shareholder value and as part of our continuing focus to strengthen our business fundamentals,” said Mr Cameron Ong, Managing Director & CEO of The Ascott Group.

The 2006 CHIS is a leading hotel investment summit that brings together top leaders of the international hotel community and prominent Chinese hoteliers. The event is co-hosted by the largest global hospitality consulting firm, HVS International, and the leading institution for hospitality education in China, Beijing International Studies University.

Over 300 industry leaders and delegates from 16 countries attended the summit. Distinguished speakers from the international hospitality, academia and global hotel industry exchanged views on the market trends as well as investment and development opportunities in China. Ascott’s Managing Director & CEO, Mr Cameron Ong was also among the 14 speakers.


About The Ascott Group

The Ascott Group is a leading international serviced residence company with close to 16,000 serviced residence units in key cities of Europe, Asia Pacific, and the Middle East.

Ascott's global presence spans 43 cities in 17 countries. These include London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Pattaya, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing, Xi’an and Hong Kong in Asia; Sydney, Melbourne and Auckland in Australia / New Zealand as well as Dubai in the Middle East.

Headquartered in Singapore, The Ascott Group pioneered Asia Pacific's first branded luxury serviced residence in 1984. The Group also established the world’s first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust in 2006. Today, Ascott boasts a 21-year industry track record and serviced residence brands that enjoy recognition worldwide.

The Group operates three brands – The Ascott, Somerset and Citadines. Its achievements have been recognised internationally; it has clinched numerous prestigious awards including the 2006 ‘China’s Top 100 Serviced Apartments’ award, Korea Times’ ‘Best International Serviced Residence Brand’ award, the ‘Highly Commended Deluxe Accommodation’ award at the 2005 Tasmanian Tourism Awards, ‘Best Accommodation’ at the 2005 World Travel Awards, TTG Asia Media’s 2005 ‘Best Serviced Residence Operator’ award, and the Business Traveller Asia Pacific’s 2005 ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence’ awards.

For a full list of awards, please visit : https://www.the-ascott.com/aboutus/awards_and_accolades.html?year=2007

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, the multinational company's core businesses in property, hospitality and real estate financial services are focused in gateway cities in Asia Pacific, Europe and the Middle East. Its property and hospitality portfolio spans more than 70 cities in 18 countries.

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



Celina Low, Vice President, Corporate Communications

Tel: (65) 6586 0475 

Hp: (65) 9682 5458 

Email: celina.low@the-ascott.com

Joan Tan, Manager, Corporate Communications

Tel: (65) 6586 0474 

Hp: (65) 9743 9503 

Email: joan.tan@the-ascott.com

Lilian Goh, Head, Investor Relations

Tel: (65) 6586 7231  

Hp: (65) 9795 5225  

Email: lilian.goh@the-ascott.com