Ascott Opens Eighth Serviced Residence In Bangkok

Online, January 27, 2010 (Newswire.com) - CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has opened its eighth property in Bangkok, Thailand. The 262-unit Somerset Sukhumvit Thonglor is the largest serviced residence in Bangkok's prime Soi Thonglor district which is well-known amongst expatriates and travellers for the convenience and vibrant international lifestyle it offers.

Mr Alfred Ong, Managing Director for Southeast Asia and Australia, said: "Ascott has built a strong presence in Thailand over the last decade with our three distinct brands - Ascott, Somerset and Citadines - which cater to travellers' different lifestyles. Our properties in Thailand have been performing well with an average occupancy of above 80%. Ascott's latest serviced residence, Somerset Sukhumvit Thonglor, will offer travellers another international-class accommodation which they can call home. It also reinforces Ascott's position as the market leader in Thailand with over 1,700 apartments in nine properties."

With Somerset Sukhumvit Thonglor's strategic location, business and leisure travellers can enjoy a variety of dining, retail and entertainment options. These include some of Bangkok's most notable restaurants along "Gourmet Mile", upmarket malls such as J Avenue and H1, the major Cineplex Eakamai, as well as trendy nightspots which are located across the entire Thonglor district. Long-stay travellers with children will welcome the added advantage of being close to established international schools such as the American School of Bangkok and Singapore International School of Bangkok.

Furthermore, Somerset Sukhumvit Thonglor has excellent transport links. Its proximity to the Thonglor Skytrain Station provides travellers easy access to the main financial and business districts in the Sukhumvit-Thonglor area, as well as various attractions and landmarks in the city.

Somerset Sukhumvit Thonglor offers a range of apartment types from studios to one and two-bedroom units, enabling travellers to choose an ideal residence for their lifestyle. The stylish apartments come with contemporary decor, modern fittings, a fully-equipped kitchen, home entertainment system and wireless internet access. Travellers can enjoy a leisurely swim in the property's pool, work out in the gymnasium, relax at the jacuzzi or discover Bangkok through residents' programmes. The serviced residence also offers a pool and indoor playroom for children. In addition, executives will find the extensive business facilities and support indispensable.

To celebrate the opening of Somerset Sukhumvit Thonglor, Ascott is offering promotional rates from THB 2000++ per night for daily stays and from THB 50,000++ per month for extended stays. For enquiries and reservations, please visit www.somerset.com, call (65) 6272 7272 or email enquiry@the-ascott.com.

About The Ascott Limited

Ascott is the world's largest international serviced residence owner-operator with over 19,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as around 6,000 units which are under development, making a total of 25,000.

The company operates three brands - Ascott, Somerset and Citadines. Its portfolio spans 67 cities in 22 countries, 11 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. It also established the world's first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 25- year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include TTG Travel Awards 2009 'Best Serviced Residence Operator', Business Traveller UK Awards 2009 'Best Serviced Apartment Company', Business Traveller Asia Pacific Awards 2009 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia Pacific', TTG China Travel Awards 2009 'Best Serviced Residence Operator in China', and DestinAsian Readers' Choice Awards 2009 'Best Serviced Residence in Asia-Pacific'.

About CapitaLand Group

CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed subsidiaries and associates of CapitaLand include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust.