THE ASCOTT GROUP LIMITED
Previous company name
ASCOTT LIMITED (THE)
Name change date
The Ascott Group Limited is a public company engaged in the operation of serviced residence units in the key cities of Asia Pacific, Europe and the Gulf region. The company was established in 1984. The registered headquarters of the company is located in Singapore City, Singapore. The company is traded on the Singapore Exchange under the stock code A07.
The Ascott Group provides two initiatives that maintain its recognized service standards namely: The Ascott Training Institute, which provides staff with the knowledge, skills and best practices to provide superior services, above and beyond industry standards; and Product Process and Procurement, which provides advice and assistance services during the pre-opening phase of its customers new residence.
The Ascott Group serves as the largest international serviced residence owner-operator outside the United States, with more than 19,500 serviced residence units. The company’s portfolio spans 54 cities in 23 countries in Europe, Asia, Australia, and the Gulf region. It operates three brands: Ascott, Somerset and Citadines. The company’s vision is to be the leading international serviced residence company with global brands, and products and services that set new industry benchmarks.
The principal activities of the Company are those relating to investment holding and the management of serviced residences and commercial properties. Its subsidiaries are involved in activities related to management of serviced apartments, property management services, cleaning services, investment and development of serviced apartments, food court management and operation, centre management, management of golf and country club, and investment holding.
Description and history
The Ascott Group is a leading international and Asia Pacific’s largest serviced residence company with a portfolio of over 8,400 serviced residence units spanning the gateway cities of Southeast Asia, North Asia, Australasia and the UK. Following the completion of its acquisition of a 50 percent stake in the Citadines pan-European serviced residence chain, Ascott’s portfolio has expanded to 13,500 serviced apartments across 37 cities including London, Paris, Brussels, Berlin and Barcelona.
The Company was incorporated on 29 March 1979 in Singapore as a private limited company. It was later converted to a public company on 12 July 1991 with the name, Scotts Holdings Limited. the year 1999 saw the merger of Scotts Holdings and DBS Land’s Stamford Residences. The Company adopted the name The Ascott Limited on 17 December 1999. It became The Ascott Group Limited on 2 May 2001, following its merger with Somerset Holdings on 25 November 2000.
The Company pioneered the serviced residence concept with Asia Pacific’s first luxury branded serviced residence in 1984. Today, it boasts an 18 year track record and serviced residence brands that are market leaders in the industry. Its ‘The Ascott’ brand projects a luxurious and elegant lifestyle appealing to top executives, and its ‘Somerset’ brand offers stylish, contemporary living for senior to upper management executives.
The Company was takeover by SOMERSET CAPITAL PTE LTD, a wholly-owned subsidiary of CAPITALAND LIMITED and delisted from SGX effective from 29 April 2008.
Headquartered in Singapore, The Ascott Group is the serviced residence arm of CapitaLand Limited, one of the largest listed property companies in Asia.
The Ascott Group is also a leading international serviced residence company with serviced residence units spanning the gateway cities of Europe, Southeast Asia, North Asia and Australasia.
The Group’s flagship The Ascott luxury serviced residence brand projects an elegant lifestyle appealing to top executives. Its Somerset upper-tier brand offers stylish, contemporary living for senior to upper management executives. The mid-tier Oakford brand in Australia and Citadines brand in Europe provide corporate executives with comfortable city residences.
Engaged in the operation of serviced residence units in the key cities of Asia Pacific, Europe and the Gulf region
ASCOTT GROUP (JERSEY) LTD
US SIC Code
Temasek Tower, #13-01
8, Shenton Way
City province or state postal code
Phone: +65 6220 8222
Fax: +65 6227 2220
Country address: SINGAPORE
Website url: www.theascottgroup.com