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33. Ascott Signs A$500 Million Deal in Australia
Ascott has entered into a strategic partnership with Quest Serviced Apartments, a serviced apartment provider with 112 properties in Australia. Ascott expects to invest up to A$500 million (Sin$560 million) to acquire new properties that Quest will secure for its franchise in Australia over the next five years. Ascott will have a right of first refusal to acquire the properties sou
34. Ascott Opens Two New Properties in China
Ascott Opens Two New Properties in China. The serviced residence properties Somerset JieFangBei, Chongqing and Somerset Garden City, Shenzhen will widen Ascotts reach and increase the scale of its operation in the mainland. Ascott is one of the largest international serviced residence owner-operators in China with more than 5,000 units in 26 properties across 12 cities.
35. Ascott launches Best Rate Guarantee
Ascott launches Best Rate Guarantee. 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 Ascotts websites. Guests can now be confident of obtaining the best rate each time a reservation is
36. Ascott Signs First Citadines in Malaysia
Ascott Signs First Citadines in Malaysia. Ascott has signed its first Citadines serviced residence in Malaysia Citadines Kuching Uplands. With this new property and other properties due to open in Malaysia, Ascotts operating apartments in the country will more than double from the current 455 units to a total of 1,168 units across nine properties by 2013. The company has recentl
37. Ascott Expands Portfolio of Luxury Serviced Residences to Japan
Ascott has expanded its portfolio of luxury serviced residences to Japan with the opening of the Ascott Marunouchi Tokyo. Located in the prime Marunouchi-Otemachi area, the Ascott Marunouchi Tokyo is part of an integrated development that also comprises offices and is surrounded by must-go places, from the tranquil Imperial Palace East Gardens to the famous Ginza district which boa
38. Ascott Signs 4 New Properties
Ascott has signed four new contracts to manage over 850 units in four growing Asian markets. The new management contracts mark Ascotts first property in the cities of Yogyakarta (Indonesia) and Miri (Malaysia). Ascott has also secured a property in Binh Duong province (Vietnam) and added a second serviced residence in Seoul, which is its third in South Korea.
39. Ascott Partners Beijing Vanke; Signs Two New Serviced Residences
Ascott has entered into a strategic alliance with Beijing Vanke, a wholly-owned subsidiary of Vanke China, to drive Ascotts expansion plans in China. Vanke is one of the largest property developers in the country. Beijing Vanke will leverage its significant presence and expertise to develop serviced residences in China, while Ascott will in turn provide its capabilities in managin
40. Ascott to Acquire Luxury Hotel in London
Ascott has signed an agreement to acquire a prime hotel operating in London for 158.8 million (S$311 million). Ascott will manage the 230-unit hotel, The Cavendish London, in the fourth quarter of 2012. The hotel, which has a rich heritage dating back to the 1960s, will be subsequently transformed into a serviced residence under the Ascott The Residence brand and will be named Asc

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