Ascott to Increase Profile in North American Market Through Marketing Partnership and Appointment of Sales Representative

Under the marketing partnership, AKA, which provides luxury furnished suites in prime metropolitan locations in the U.S., will refer its customers to Ascott when they travel out of America. Similarly, Ascott will recommend its U.S. bound customers to stay at AKA's properties. The partnership will widen Ascott's global reach to about 80 cities across the U.S., Europe, Asia Pacific and the Gulf region.

Ms Carol Barron from SAW has been appointed as Ascott's sales representative for the U.S. and Canada market. Ms Barron will be responsible for driving sales and promoting Ascott's three award-winning brands of serviced residences – Ascott The Residence, Citadines Apart'hotel and Somerset Serviced Residence.

In a recent report by the Global Business Travel Association (GBTA), U.S. business travel spending is expected to rise by about 5% year-on-year in 2013 to more than US$260 billion. For 2014, GBTA forecast total U.S. business travel spending to increase by over 7%.

Mr Tony Soh, Ascott's Chief Corporate Officer, said: "We see tremendous potential in the North American market. Ascott's serviced residences are located in key cities where many American multinational corporations have set up operations. Currently, these companies account for more than 30% of our corporate business and we expect this to increase. International outbound business travel from America is projected to rise and travellers are expected to stay longer, creating greater demand for serviced residences. We look forward to leveraging AKA's U.S. network and SAW's market intelligence to expand Ascott's market share in North America and increase the scale of our business."

"As more individuals are looking for flexible, long-stay living options, the demand for luxury serviced residences has increased worldwide. Partnering with Ascott was a natural fit for AKA since both brands have similar offerings and a deep understanding of the long-stay traveller needs and expectations. AKA's alliance with Ascott creates an opportunity for us both to expand our global reach and better serve our guests in these new markets," said Mr Larry Korman, President of AKA. "We look forward to a lasting relationship with Ascott as we continue to increase our presence in international markets."

Sir Richard Rowley, Owner of SAW, said: "We are delighted to partner with Ascott as their exclusive sales representative in North America to promote their global industry-leading serviced residences. We look forward to working closely with international mobility and corporate travel networks to provide the best lodging solution for relocation and business travel needs. With Ascott's global network and three distinct brands of serviced residences, this partnership will offer our customers more choices in selecting their ideal home away from home wherever they travel to."

Singapore-based Ascott pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. It currently has more than 31,000 apartment units in over 200 serviced residences worldwide.

Ascott's three brands of serviced residences cater to the different lifestyle needs of expatriates and travellers. Ascott The Residence brand provides top business executives luxurious living in elegant apartments. Citadines Apart'hotel offers independent travellers the flexibility to choose the services they require. For those travelling with children, Somerset Serviced Residence is ideal as the properties come with amenities such as playground, indoor playroom and children's swimming pool. Besides spacious apartments with separate living and dining areas and a fully-equipped kitchen, residents will enjoy privacy, comfort of a home and top quality services.