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CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has been conferred the coveted Business Superbrands status in Singapore. Business Superbrands is an internationally recognised accolade which pays tribute to the best and most valued business-to-business brands around the world. Ascott is the first serviced residence company to receive this recognition.

The accolade is presented to brands that have met the stringent standards set by the Superbrands organisation in the areas of achievement, innovation, market share, reputation and corporate social responsibility. Brands were evaluated by Superbrands' independent panel of marketing and branding experts as well as senior business leaders. Some of the notable brands that were accorded Business Superbrands status last year were SAP, IBM, Microsoft, Canon, SingTel and Singapore Airlines.

Mr Lee Chee Koon, Ascott's Chief Executive Officer, said: "Being the first serviced residence company to be recognised as a Business Superbrand has further cemented Ascott's position as the industry leader. Ascott pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore along Scotts Road in 1984. We have since grown to be the world's largest international serviced residence owner-operator. Our target is to increase our brand footprint to 40,000 apartment units globally by 2015."

Mr Lee added: "As we expand, we ensure that we give back to the local communities in markets where we operate and we also launch various innovative initiatives to enhance the Ascott experience for our customers. This Business Superbrands accolade goes to our staff for their dedication and hard work, and we will continue to strive to do better."

Mr Mark Pointer, Chief Executive Officer of Superbrands Singapore, said: "To achieve Business Superbrands status, companies must have established the finest reputation in their fields, gain significant market share and attain a high level of brand recognition to be able to qualify. Achieving Business Superbrands status means that Ascott is seen as more trustworthy, of higher quality and has a better reputation."

"Ascott is a renowned global serviced residence provider that offers high quality serviced residences across many of the world's most vibrant cities. We are delighted to recognise Ascott as one of Singapore's leading business brands and we pay tribute to the management and all of the people who work behind the scenes to build the business and the brand," added Mr Pointer.

In Singapore, Ascott currently operates more than 700 apartment units in seven properties. Ascott opened Ascott Raffles Place, its premier serviced residence in Singapore, in 2008 after a S$60 million restoration effort. Ascott had carefully preserved unique features of the former Asia Insurance Building which was Southeast Asia's tallest building in the 1950s while transforming it into Ascott Raffles Place. In 2009, Ascott brought its Citadines brand to Singapore with the opening of Citadines Mount Sophia. Citadines is an established chain of apart'hotels in Europe which Ascott acquired in 2002. Besides Ascott Raffles Place and Citadines Mount Sophia, Ascott also operates Somerset Bencoolen, Somerset Liang Court, Somerset Orchard, The Heritage and Riverdale Residence in Singapore. The company will be opening another prime serviced residence in the premier shopping and lifestyle district of Orchard Road in 2017.

Ascott continues to enhance its customer experience through various initiatives. These include launching mobile-friendly websites and online chat facility to enhance guests' search and reservation experience, and introducing an 'Around our Residences' Facebook application which allows guests to share tips with fellow travellers on what to see and do around Ascott's serviced residences. Ascott also enhanced its Best Rate Guarantee programme to give customers a stronger reason to book stays on Ascott's websites. In addition, since the launch of Ascott's global sustainability drive, Go Green @ Ascott, in 2012, its properties have rolled out green products and services which have received positive feedback from guests.

Through Ascott's corporate social responsibility programmes, the company aims to make a meaningful difference to the lives of underprivileged children by supporting their educational, healthcare and shelter needs. The programmes include donation drives to collect books and furniture for children from low-income families, building a classroom for disadvantaged children to create a conducive environment for learning, and creating a garden for a children's home so that the children can learn to grow plants.

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit http://www.capitalandinvest.com/ for more information.

Tan Hock Lee
Manager, Corporate Communications
(65) 6823 3266
The Ascott Limited