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17. Ascott Appoints New CEO
Ascott has appointed Mr Lee Chee Koon as its Chief Executive Officer (CEO), effective from 1 June 2013. He will succeed Mr Chong Kee Hiong who has resigned to pursue other opportunities. Mr Chong will step down as Ascott's CEO and as a Non-Independent Non-Executive Director from the Board of Ascott Residence Trust Management Limited (ARTML), the manager of Ascott Residence Trust, w
18. Ascott Opens Citadines in Jakarta; Promo Rates from US$ 65+
Ascott Opens Citadines in Jakarta; Promo Rates from US$ 65+. Ascott has opened its first Citadines serviced residence in Indonesia. The new 135-unit Citadines Quartier Jakarta is Ascotts 15th Citadines property to open in the Asia Pacific region since the introduction of the brand from Europe to the region in 2006. With Citadines Quartier Jakarta, Ascott strengthens
19. Ascott Opens Citadines in Munich
Ascott Opens Citadines in Munich. The Ascott Group has opened its second Citadines serviced residence in Germany. The Citadines Munich Arnulfpark marks Ascotts entry into the Bavarian capital of Munich and complements Ascotts other property in Germany, namely the Citadines Berlin Olivaer Platz.
20. Ascott Signs Three Serviced Residences in Saudi Arabia
Ascott has signed three properties in Saudi Arabia, including its first in the Islamic holy city of Makkah. The 280-unit Ascott Makkah, 92-unit Ascott Villas Riyadh and 69-unit Spectrums Residence in Jeddah are all slated to open in 2017.
21. Ascott Acquires Majority Stake in Quest Apartment Hotels for A$180 Million
Ascott has confirmed that it is acquiring an additional 60% stake in Quest Apartment Hotels (Quest) for A$180 million (S$191 million). The acquisition will increase Ascotts stake in Quest from its current 20% to 80%, propelling Ascott to become the largest serviced residence provider in Australasia.
22. Ascott Acquires 411-Room Hotel in Times Square, New York
Ascott Residence Trust (Ascott Reit) is expanding its footprint to the United States of America by acquiring the 411-key Element New York Times Square West hotel located in Midtown Manhattan for US$163.5 million (approximately S$220.7 million). The accretive acquisition at an EBITDA yield of 6.2% is expected to increase Ascott Reits distribution income in FY 2014 by US$0.8 million
23. Ascott Opens New Serviced Residences in Hangzhou, Hamburg and Jakarta; Signs One in Dubai
Ascott has opened its first serviced residences in Hangzhou, China and Hamburg, Germany. The company has also opened its second Ascott-branded serviced residence in Jakarta, Indonesia and secured a management contract for its second Ascott-branded serviced residence in Dubai which is slated to open in 2017.
24. Ascott Arc de Triomphe Paris to Open in June
Ascott has agreed to acquire an 100% shareholding in SNC Costes K which owns the prime Hotel K and an adjacent vacant residential property in Paris, based on an agreed asset value of 65 million (approximately Sin$118.4 million). After the acquisition is completed, Ascott will combine and transform the freehold properties into a premium serviced residence to be named Ascott Arc de

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