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Ascott Appoints Country General Manager for Vietnam

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Ascott has appointed Mr Richard Tan as Country General Manager for Vietnam where he will be responsible for managing the company's operations and growing its serviced residence business in the country.

 Mr Tan has undertaken several roles across Ascott's operations in different countries since joining the company in 2004. Prior to his appointment, he was Area Manager for Singapore in charge of the operations of two properties Somerset Grand Cairnhill, Singapore and Citadines Singapore Mount Sophia. He also led Ascott's business development efforts in India as Regional Manager for the region. Between 2004 and 2008, Mr Tan held various portfolios such as Residence Manager of Somerset Grand Shanghai, Senior Manager for Corporate Operations as well as Manager for Group Finance.

Ascott currently has 818 operating serviced residence units in five Somerset-branded properties in Ho Chi Minh City and Hanoi. The company is developing another 485 units in three properties in Ho Chi Minh City, Hai Phong and Danang.

Mr Alfred Ong, Ascott's Managing Director for Southeast Asia & Australia, who previously oversaw the company's Vietnam operations, said, Vietnam is a key growth market for Ascott. The country's high literacy rate and productive labour force has attracted a high level of foreign direct investments. This has in turn created strong demand for quality serviced residences. With Richard's knowledge and extensive experience in managing serviced residences, I am confident that he will strengthen our Vietnam operations and achieve our target of increasing our presence to 1,800 serviced residence units by 2012.

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