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41. 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
42. Ascott to Offer Special Car Rental Rates in Thailand through New Partnership with Hertz
Ascott to Offer Special Car Rental Rates in Thailand through New Partnership with Hertz. Ascott International and Hertz have launched a car rental privilege card for all residents staying a minimum one month and above at Ascottís serviced residences in Thailand. Cardholders enjoy preferred rates and convenient services from Hertz, one of the worldís largest car rental companies.
43. Ascott Signs Two More Serviced Residences in China
Ascott has signed contracts to manage two more properties in China. The 181-unit Ascott Financial City Chengdu, which is the first premier Ascott-branded serviced residence in Chengdu, is slated to open in 2014. The 187-unit Somerset Wangjing Beijing is scheduled to open in 2013.
44. Ascott Signs Somerset Residence in Gurgaon, India
Ascott has secured a contract to manage its first Somerset-branded serviced residence in Gurgaon, India. Slated to open by 2019, the 174-unit Somerset Diplomatic Greens Gurgaon is Ascottís second serviced residence in the city, after Ascott Ireo City Gurgaon which is scheduled to open in 2017.
45. Ascott Signs Citadines in Hangzhou
Ascott has secured a contract to manage its first Citadines Apartíhotel in Hangzhou. Scheduled to open in late 2014, the 100-unit Citadines Intime City Hangzhou will be Ascottís 11th Citadines Apartíhotel in China. The serviced residence will further reinforce Ascottís leadership position as one of the largest international serviced residence owner-operators in China with about 9,3
46. Ascott in JV with RMZ Corp for New Banaglore Residence
Ascott in JV with RMZ Corp for New Banaglore Residence. Ascott has entered into a joint venture with RMZ Corp, one of India's leading real estate developers, to develop a 203-unit serviced residence in Bangalore. Ascott will acquire a 50% stake in the joint venture company for INR 151.75 million (approximately Sin$4.36 million) while RMZ Corp will hold the remaining stake.
47. Ascott Opens Citadines in Melbourne; A$150 Promotion
Ascott Opens Citadines in Melbourne; A$150 Promotion. Ascott, has expanded its presence in Australia with the opening of its first Citadines serviced residence in Melbourne, Victoria. Ascott has invested A$168 million to develop the new 380-unit Citadines Melbourne on Bourke which is now the companyís largest Citadines- branded serviced residence in its global network.
48. Ascott International Thailand appoints New Country GM and DOSM
Ascott International Thailand appoints New Country GM and DOSM. Ascott International, a leading international serviced residence operator, has appointed a new Country General Manager and Director of Sales and Marketing in Thailand. Mr Eddie Lim takes over as Country General Manager Thailand, replacing Mr Henry Lim who is now Ascott Internationalís Country General Manager based in V

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