Made with FlippingBook. The company has three distinct brands for different lifestyle needs that include Ascott, Citadines and Somerset. The premier Ascott-branded properties offer business executives discreet service in an exclu- sive environment. Ascott has, and continues to experience growth through its investments, management contracts, and strategic alliances.
As the largest international serviced residence owner-opera- tor, it currently has a portfolio of more than operating properties in Asia Pacific, Europe and the Gulf region, with an additional 50 properties under development in the key gateway cities of China, Germany, India, Indonesia, Malaysia, Oman, Saudi Arabia, Singapore, the Philippines, and Vietnam.
With strong potential for further growth in Asia Pacific, London, Paris and key cities in Germany, Ascott will continue to look for expansion oppor- tunities in these markets to achieve its target of 40, apartment units globally by Significant milestones for the company in- clude the acquisition of Citadines in , which added more than 5, units to its portfolio.
The acquisition helped Ascott develop into a global business with greater economies of scale. Cost savings have been achieved through re- ductions in water, energy, and paper consump- tion. ISO and OHSAS are globally recognised standards for environmental management, and occupational health and safety management, respectively. In particular, the acquisition of the Citadines chain of serviced residences in Europe in accel- erated global expansion to create a larger net- work.
This has resulted in greater economies of scale and helped Ascott sustain top-of-mind re- call with its target markets.
