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February 09, 2016 1:59 PM ET

Real Estate Management and Development

Company Overview of The Ascott Limited

Company Overview

The Ascott Limited operates as a serviced residence owner-operator. The company also offers franchise options. It operates serviced residence units in the Asia Pacific, the Americas, Europe, and the Gulf region. The Ascott Limited was formerly known as Scotts Holdings Limited and changed its name to The Ascott Limited in December 1999. The company was incorporated in 1979 and is based in Singapore with additional offices in Singapore and internationally. The Ascott Limited operates as a subsidiary of CapitaLand Limited.

168 Robinson Road

#30-01 Capital Tower

Singapore,  068912


Founded in 1979


65 6713 2888


65 6713 2121

Key Executives for The Ascott Limited

Chief Executive Officer
Age: 40
Deputy Chairman, Chairman of Executive Committee, Member of Nominating Committee, Member of Executive Resource & Compensation Committee, Chief Executive Officer of CapitaLand Limited and President of CapitaLand Limited
Age: 69
Chief Executive Officer of Ascott Residence Trust Management Limited
Chief Investment Officer and Managing Director of Ascott China Fund Management
Managing Director of Europe
Compensation as of Fiscal Year 2015.

The Ascott Limited Key Developments

Ascott Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Ascott reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, revenue was SGD 196.251 million against SGD 178.997 million a year ago. Earnings before interest & tax was SGD 82.859 million against SGD 42.913 million a year ago. For the nine months, revenue was SGD 546.074 million against SGD 506.316 million a year ago. Earnings before interest & tax was SGD 227.283 million against SGD 201.311 million a year ago.

The Ascott Limited Announces Expansion with Four New Contracts in China

The Ascott Limited is expanding rapidly in China by inking four new management contracts for 583 serviced residence units. Two of the properties are located in Shanghai and one each in Beijing and Dalian. Ascott Beijing (opening 2016), Citadines Jinxiu Shanghai (opening 2019) and Citadines Putuo Shanghai (opening 2019) will boost Ascott's portfolio to 11 properties in Beijing and seven properties in Shanghai, cementing its leadership position as the international serviced residence operator in the first-tier cities. Ascott is also bringing its Citadines brand to Dalian, a major port city in northeast China, with the management of Citadines Gugeng Dalian (opening 2016). Located at Dalian Economic and Technological Development Zone, the new property will cater to the fast growing accommodation needs of the developing area. By introducing Citadines to the city where Ascott currently manages two Somerset-branded properties, it will offer travellers more choices for a home away from home.

The Ascott Limited Continues Expansion in Philippines

The Ascott Limited announced that it is continuing to expand its operations in the Philippines, with the opening of its new properties in Alabang next year and in Cebu City in 2019. In a statement, the company said it recently completed the structure of Somerset Alabang Manila, which is on track to open between the second and third quarter of 2016. Ascott had signed a contract with LBL Prime Properties Incorporated to manage the serviced residence, which is located in Filinvest City. Ascott is also expanding in the provinces with the Citadines Cebu City project, its first outside Manila. Citadines Cebu City, owned by Cebu Landmasters, is set to open in 2019. It is located at the former site of Base Line, known for its recreational and sports facilities in Cebu.

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