ascott establishes leadership · 37 units in london’s fashionable notting hill district oakford...

ASCOTT LIVING February 2002 1

FEBRUARY 2002VOL 2 N1

MITA (P) NO. 301/08/2001ISSN: 0219-6107

LIVINGNEWSLETTER OF THE ASCOTT GROUP

Ascott Establishes Leadershipin UK and Australia

Princes Square I37 units in London’s fashionable Notting Hill district

Oakford Darling Harbour119 units in Sydney’s central business district

In the UK, the Ascott-Dilmun joint venture hasincreased the group’s market share to 783 units,of which 565 units are in London. (Story on pages2 - 3)

In Australia, the group has consolidated theOakford serviced residence chain, to become oneof Australasia’s top three serviced residenceoperators with 1,395 units. (Story on pages 4 - 6)

2 Ascott Expands in the UK 4 Ascott Acquires Oakford Chain in Australia 8 Somerset Fortune Garden Opens in Beijing

10 Enriching Experiences 13 Win a 7-day Free Stay 14 Ascott Directory 16 Festive Promotions

The group is now one of the largest serviced residenceoperators in the UK and Australasia. It has entered intoa strategic partnership with UK property developer,Crown Dilmun; and increased its presence in Australia,by acquiring the Oakford chain of serviced residencesin Sydney, Melbourne and Hobart. The expansion is inline with its vision to become a leading global servicedresidence company.


Some of the JV Properties

The Ascott Mayfair56 luxurious units in Mayfair, West London

Chequers78 units located in the museum district of Kensington,

within walking distance of the Royal Albert Hall

The Ascott Group’s joint venture with developer Crown Dilmunmakes it a leading serviced residence operator in the UK. This is inline with its target to increase its asset allocation in developedcountries to 65 per cent by 2005.

The Ascott Group now commands significant presence in London with12 per cent market share following its strategic partnership with CrownDilmun Holdings.

The Ascott-Dilmun 50-50 joint venture has acquired Crown Dilmun’sserviced residences with 461 units and The Ascott Group’s 56-unit TheAscott Mayfair in London for £146.5 million. It also has an option toacquire Crown Dilmun’s serviced residences in Manchester (116 units)and Glasgow (102 units) for £30.3 million.

The Ascott Group also currently manages the 48-unit Somerset Bishopsgatein London.

Prime West End PropertiesThe Ascott Group’s chief executive officer, Mr Kee Teck Koon, said: “Thejoint venture presents an exceptional opportunity for us to work with arespected local partner to establish leadership in the London servicedresidence market, with quality properties in West End’s prime areas.

“Our critical mass and presence in this strategic global financial centrewill serve as an excellent springboard for our expansion into the rest of the

The Ascott service.....reaching out in London

Ascott Expands in the UKJV propertiesIn London• The Ascott Mayfair• Chequers• Princes Square I• Princes Square II• Roland House• Grand Plaza

In Manchester• The Atrium

In Glasgow• Property at Albion Street


Roland House94 units near Hyde Park and

Kensington Palace

Grand PlazaOpening 3Q 2002 with 183 units

in bustling Bayswater

UK, and major European cities such as Paris, Frankfurt,Brussels and Milan.”

Crown Dilmun’s chief executive officer, Mr Nick Sutton,said: “Ascott’s service, quality branded properties andapproach to creating high yielding operations, makethem an ideal partner to grow what is already one ofthe UK’s largest serviced residence portfolios, into theindustry leader.”

The Ascott Group will manage the serviced residencesunder its The Ascott and Somerset brands, while CrownDilmun will oversee the development of new propertiesfor the joint venture company.

Mature MarketsMr Kee said that the joint venture will increase thegroup’s asset allocation in the UK to 11 per cent of itstotal portfolio, and its exposure in developed marketsto 36 per cent from 29 per cent.

This is in line with its strategy to increase its allocationin developed markets, such as Europe and the UnitedStates, to 65 per cent by 2005. Mr Kee said that themore stable earnings from these mature economies willreplace income from the non-core properties it isdivesting.

He added that with the higher profile in London, thegroup’s The Ascott and Somerset brands will be able toachieve faster market penetration, to secure more leases

The Atrium116 units in Manchester

or management contracts. This fits its plans to becomemore asset-light with improved capital productivity.

He said that with the re-branding of the Crown Dilmunjoint venture properties as Somerset, the group willexpand its presence in UK’s mid-tier four-star servicedresidence segment. This sector has continued to showresilience despite the slowdown in global travel sincethe US September 11 incident.

The expanded portfolio will also enable the group toachieve greater economies of scale and operationalsynergies for its UK operations.

OutlookMr Kee said that the stabilised joint venture propertieswill have attractive EBITDA yields averaging nine percent, with gross operating profit margins of 65 to 70per cent.

“As our joint venture equity is funded from the saleproceeds of The Ascott Mayfair, our expanded UKpresence is being achieved without impacting our gearing.Instead, we have restructured our UK asset forsignificantly improved capital productivity,” he added.

Mr Kee said: “There is good opportunity for us toestablish market leading brands in the UK, as there is noclear leader in the country’s serviced residence industry.We aim to expand our joint venture to 2,500 servicedresidence units in five years.”


Oakford Serviced Residences

Sydney

• Oakford Darling Harbour

• Oakford Potts Point

• Oakford City West

Melbourne

• Oakford on Collins

• Oakford Gordon Towers

• Oakford on Lygon

• Oakford The Mews

• Oakford Ultimate

Hobart

• Oakford on Elizabeth Pier

• Oakford on Salamanca

The Oakford acquisition significantly increases the group’s presencein Australia. With 1,395 units, it is now one of the three largest servicedresidence chains in Australasia.

The group has expanded its footprint in Australia by acquiring theestablished Oakford serviced residence chain from Penlip Pty Ltd.

The A$7.23 million purchase includes the management contracts and leasesof nine operational serviced residences with 466 units in the central businessdistricts of Sydney, Melbourne and Hobart. The acquisition is at a priceearnings multiple of about 4.5 times the properties’ projected EBITDA forthe financial year ending June 2002.

An additional sum of up to A$7.5 million will be paid when managementcontracts and leases for five additional residences of 408 units are deliveredby June 2002.

With the previous 520 The Ascott and Somerset residence units in Australiaand New Zealand, the group is today the third largest serviced residencechain in Australasia with 1,395 units.

Ascott Acquires

Oakford Chain in

Oakford’s Serviced Residences

Oakford Darling Harbour119 units in Sydney’s

central business district

Oakford Potts Point35 units boasting magnificent views

of the Sydney Opera House andSydney Harbour Bridge

Oakford City West31 units close to the University of Sydney

and the Royal Prince Alfred Hospital


Australia

Oakford on Collins54 units centrally located inMelbourne’s CBD, opposite

the Regent Theatre

Oakford Gordon Towers54 units in Melbourne’s business

and government precinct,close to Chinatown

Oakford on Lygon53 units next to the

Lygon Street entertainment districtin Melbourne’s CBD

(Continued on pg 6...)

Strategic FitThe group’s chief executive officer, Mr KeeTeck Koon, said: “The acquisition is a rareopportunity to buy into a successful and wellknown serviced residence chain with criticalmass in Australia’s biggest business hubs –Sydney and Melbourne.

“Oakford’s lease-based business model is anideal strategic fit. It enables us to achieve ameaningful presence in Australia and NewZealand with minimal capital investment.

“It also expands our collection of leased or managedproperties from 25 to 31 per cent of our total portfolio,and increases our overall capital productivity.

“The Oakford properties are immediately incomegenerating with GOP margins of 53 to 55 per cent. They

Somerset Hyde ParkManaged by The Ascott Group, the 70-unit serviced residence is near the

Sydney Exhibition and Convention Centre, Chinatown and Darling Harbour

enjoy above market occupancy at 75 to 80 percent atrental rates of A$130 to A$150. This will provide anexcellent earnings base and springboard for our furtheractivities in Australasia,” said Mr Kee.


Oakford The Mews40 units close to the St Kilda Roadbusiness district and Albert Park

Oakford Ultimate24 units close to shopping and dining facilities

at Chapel Street and Toorak Road

Oakford on Elizabeth Pier56 units with panoramic views ofHobart’s picturesque waterfront

Global Industry LeaderMr Kee said that the Oakford acquisition is in line withthe group’s drive to transform from being a leader in theAsia Pacific to a global industry leader. The companytargets to expand its portfolio from 7,500 servicedresidence units to 15,000 by 2005.

The Oakford acquisition is part of the group’s strategyto increase its investment allocations in developedcountries, such as Australia, Europe and the UnitedStates.

Mr Kee said that the lower volatility of these maturemarkets will provide a stable replacement for its retailsector earnings, as it divests its non-core retail properties.

“...The acquisition is a rare

opportunity to buy into a successful

and well known serviced residence

chain with critical mass in Australia’s

biggest business hubs

– Sydney and Melbourne...”

Oakford’s Serviced Residences

Good PotentialAlthough the Australian and New Zealand markets havesoftened since September, serviced residences there areestablished products with stable domestic demand, saidMr Kee.

“We see good upside potential as we acquired the leasesat attractive values in the current downturn. Theseproperties will benefit from being able to immediatelyplug into our international marketing network.

“We can also now put in place one of the industry’s mostcompetitive cost structures, as we have the scale tocentralise our sales and marketing, procurement, andother support services across Australasia.”

Mr Kee said that the group will merge the operationsof The Ascott and Oakford in Australia and NewZealand to realise significant synergies and reapeconomies of scale.

The group currently operates the 70-unit Somerset HydePark serviced residence in Sydney and 315-unit luxuryThe Ascott Metropolis in Auckland. It will open another135-unit serviced residence in Melbourne at the end ofnext year.

Acquiring the Oakford Chain (...Continued from pg 5)


Click Your Way To A Holiday

Somerset Hyde Park, SydneyEnjoy ultimate convenience to shops,museums, Chinatown & Darling Harbour

AUSTRALIA

Until February 28, 2002, simply log on to www.the-ascott.com to participate in The Ascott online lucky draw.You could be one of the lucky winners to enjoy seven days free stay at your preferred city. Choose from any one

of these serviced residences in 15 cities in 10 countries.

The Ascott BeijingBe inspired by the energetic heartbeat ofBeijing

CHINA

The Ascott Pudong, ShanghaiCruise along Huang Pu River & shopat the bustling Puxi districts

Somerset Olympic Tower, TianjinUnwind with a medley of shopping &recreational activities

The Ascott JakartaBe pampered by gracious services &comprehensive facilities

INDONESIA

Somerset Puri Darmo, SurabayaEnjoy a game of golf at the scenic golfcourses nearby

The Ascott Kuala LumpurRelax & take in panoramic views ofPetronas Twin Towers by the pool

MALAYSIA

Somerset Gateway, KuchingUnveil the exotic charm of Sarawak’sGolden Triangle

The Ascott Metropolis, AucklandTake a stroll to art galleries, museums,boutiques & the harbour nearby

NEW ZEALAND

Somerset Millennium, MakatiExplore a melange of ethnic arts, shops &entertainment

PHILIPPINES

The Ascott SingaporeShop & savour local delights right in theheart of Orchard Road

SINGAPORE

Somerset Lake Point, BangkokIndulge in a shopping spree or simply relaxby the shimmering lake

THAILAND

The Ascott Mayfair, LondonRefined living set amid chic designerboutiques, grand theatres & museums

UNITED KINGDOM

Somerset Grand HanoiBe charmed by heartfelt greetings &discover a myriad of cultural treasures

VIETNAM

Somerset Ho Chi Minh CityLive in District One, with easy access toSaigon River, restaurants, shopping centres

Each serviced residence unitincludes a living room, fullyequipped kitchen and masterbedroom with en-suite bathroom.

For more details, contactCentral Reservations atTel: (65) 272 7272, oremail: [email protected]


Other Serviced Residences in China

Somerset Fortune GardenOpens in Beijing

Stylish living at Somerset Fortune Garden

The vigorous demand for the group’s servicedresidences in China reflects its strong brandrecognition in the country, and China’s furthergrowth potential. With 483 units in Beijing, thegroup is now the largest serviced residence chainin the city.

The Ascott Beijing272 units in the capital city’s main business hub,

close to the China World Trade Centre

The Ascott Pudong248 units in the heart of Shanghai’s financial district

Somerset Fortune Garden, the group’s second servicedresidence in Beijing, has opened. The 211-unit propertyin the prime Yen Sha (Liang Ma He) central businessdistrict, makes the group one of the largest servicedresidence operators in China with 1,400 units in Beijing,Shanghai and Tianjin.

The group’s deputy chairman and CapitaLand’s presidentand CEO, Mr Liew Mun Leong, said: “The Ascott Grouphas made significant headway in growing its leadershipin key regions. Our increasing presence in Beijing andShanghai are part of our strategy to expand operationsin growth markets in the global property cycle.

“Our serviced residences are performing very wellin China. We see further growth potential for thegroup with China’s recent entry to the World TradeOrganisation, favourable economic policies, hosting ofthe 2008 Olympics and increased business activity,especially in the hospitality industry.”

The Ascott Group’s chief executive officer, Mr Kee TeckKoon said: “Just three months after opening, The Ascott


Somerset Fortune Garden offers private balconies and scenic city views

Somerset Xu Hui167 units in the Xu Hui residential estate

of Shanghai

Somerset Grand Shanghai334 units in Huai Hai Zhong Lu,

Shanghai’s shoppingand entertainment district

Somerset Olympic Tower169 units in Tianjin’s major upmarket

shopping area

Apart from The Ascott Beijing and Somerset FortuneGarden in Beijing, the group has three serviced residences inShanghai – the 248-unit The Ascott Pudong, 334-unitSomerset Grand Shanghai, and 167-unit Somerset Xu Hui.In Tianjin, it operates the 169-unit Somerset Olympic Tower.

“ ...I have spent a very pleasant and comfortable stay atSomerset Fortune Garden. I am delighted to be

one of your first guests and to discover the great teamwho are very attentive and devoted...”

— G Fermanian

Beijing achieved over 70 per cent occupancy on itsfirst phase of 134 operational units.

“This record stabilisation period for a servicedresidence was made possible by our strong brandrecognition, pre-opening process, and internationalsales and marketing network,” he said.

“With Somerset Fortune Garden now in operation,we will be able to drive further economies of scaleand higher operating margins. As a leading playerin China, we are in an excellent position to competefor more third party management contracts,” addedMr Kee.

An enriching living experience for expatriates


Enriching Experiences

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A Double CelebrationThe Ascott Kuala Lumpur had doublereasons to celebrate. It was their secondanniversary of opening, and Malaysia’sNational Day. Residents had a good time ata poolside barbecue where they also watcheda fireworks display at the KLCC park.

To mark the occasion, the serviced residencelaunched a charity drive for an orphanage.Residents and employees pitched in with giftsand foodstuff for the children at the GoodSamaritan Home in Klang.

Residents having a ‘makeover’ for the party

Chef Vikram Singh conducts his Indian cuisineclass with flourish, when he introduces exoticdishes like garlic naan, chicken tikka and lambcurry.

Clare Wade from one of the classes enthusedthat the cooking class was “brilliant”. Get therecipes by contacting Executive Chef, Mr HorstWellmeyer at [email protected].

Mid-Autumn CruiseIt was a Mid-Autumn Festivalwith breathtaking views of thesea and Shanghai skylights.The Ascott Group in Shanghaitreated some 105 clients andresidents to a memorableevening cruise.

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(From left) Mr Nicholas Cho, GM of Somerset Xu Hui; Mr Lee Chuan Ann,Deputy GM of ExxonMobil; Ms Cinn Tan, Regional Director of Sales& Marketing, AIM Shanghai; Mr Khor Hun Chin, GM of Maybank;and Ms Joan Tay, Area Finance & Admin Manager, AIM Shanghai

Naan making – delightful works of art and food

Naan Delights MoreThere is none like the ‘naan’ way to one’s heart and stomach. Orso it seems from the wildly successful cookery classes cooked upby The Ascott Metropolis Auckland for its residents, staff andcorporate clients.

Naan bonding – new way to win the heart and stomach


The champion team of The Ascott corporate clients and residents.(From left): Ross Barrett, Mike Ohanian, GM Melvin Lim,Harsha Joesoef, Steve Brodrick and H K Han

Left to right: Mr Abe Sagugo,GM, Chang Fu StainlessSteel Center (Suzhou)Co Ltd; Ms Gloria Guo,Marketing Manager,AIM Shanghai;Mr Matsushita Takaaki,Acting Director,Chang Fu Stainless SteelCenter (Suzhou) Co Ltd;Mr Yip Hoong Mun,Area GM, Shanghai;Ms Rose Lou,Guest Relations Officer,AIM Shanghai; andMr T C Kuan,GM, The Bank ofEast Asia Ltd, Shanghai

Ray of HopeThe Somerset Expat Ladies’ Club in Hanoi has a labour of lovefor handicapped children. It is actively raising funds for childrenat the Cuba Hospital in Hanoi who are suffering from cleft lipand palates, burn scars, orthopedic and other health problems.The club is made up of residents from Somerset Grand Hanoiand Somerset West Lake.

These childrenare given a rayof hope bymembersof the SomersetExpat Ladies’Club, Hanoi

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Autumn CheerStaff and residents from The Ascott Groupin Shanghai celebrated the Mid-AutumnFestival with the elderly from Rui Jin ErRoad Old House, and brought gifts ofmedical mattresses.

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Golf AcesIn Jakarta, The Ascott golfing teamwon the much prized FedEx-RPXsponsored Corporate Golf League.

The keenly contested event inJakarta saw over 25 competingteams. But deft strokes paid off forThe Ascott team with participatingresidents and corporate clients ofThe Ascott Jakarta, Somerset GrandCitra and Country Woods.

Triumphant team captain andgeneral manager of The AscottJakarta, Melvin Lim said: “It’s greatto be champions, but that’s a bonus.The most important thing was thatour clients and guests had a greattime. We enjoyed the camaraderieand the support from The AscottGroup community.”

In Shanghai, a golf tournamentorganised by The Ascott Groupdrew over 60 participants from itscorporate guests and residents.

The players had a good time gettingto know one another, and pittingtheir skills for unusual prizes suchas the lowest gross and the longestdriver.

(Continued on pg 12...)


Carol Kidd......at home at The Ascott Singapore

Singing PraisesCarol Kidd captivated Singapore jazz lovers when sheperformed in Singapore recently.

One of Britain’s award-winning jazz singers, she stayedat The Ascott Singapore. It was her first servicedresidence experience.

She was impressed with the space in her unit, whichis important for an entertainer who needs a lotof wardrobe facilities. And the kitchen made it feellike home.

“I travel about three months every year. I love therelaxed atmosphere and facilities in your servicedresidence especially your kitchen. Your housekeepingstaff is fantastic, and so helpful and friendly,” saidMs Kidd.

Hawaiian GetawayAloha! Somerset Gateway, Kuching hosted a Hawaiiancocktail reception for the media and travel agents toforge a closer partnership in enhancing services forvisitors.

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Halloween PartyThe Halloween party for Somerset residents inSingapore was a ‘hair-raising’ affair. The atmospherewas spooky, but the children had a ball with thepumpkins and games.

Fond FarewellA recent farewell party at The Ascott Jakarta had a differenttwist. It was hosted by four-year residents, Mr and MrsErnest Olson, in appreciation of the staff who had becomefriends, during their stay in Jakarta.

The American couple shared fond memories and personallythanked staff at The Ascott Jakarta.

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Mr and Mrs Olson with theparting gift given by stafffrom The Ascott Jakarta

Hawaiian high – journalists and travel agents on therooftop party with Somerset Gateway’s Resident Manager,Lew Yen Ping (fourth from left)

Enriching Experiences (...Continued from pg 11)


Leading Brands

The Ascott – Successful, Distinguished, ElegantThe Ascott offers elegant living for the successful anddistinguished in some of the finest residences ingateway cities. Located in prime business districts, TheAscott serviced residences provide luxurious comfort,discreet service and meticulous attention to detail.

Somerset – Contemporary, Stylish, WarmRight in the business hub of major cities, Somersetserviced residences offer a seamless blend of comfort,convenience and stylish living. Savvy executives andtheir families enjoy modern business amenities andgood living amid the charming local culture andpulsating city excitement.

Win A 7-day Free Stay

The Ascott and Somerset serviced residences are market leaders in the region. The Ascott Group owns and/or manages 7,500 units in 19 cities in 10 countries across Asia, Australasia and the United Kingdom.

More than 5,000 people participated in the ‘Free Yourself’ campaignat Scotts Shopping Centre, Suntec City and Raffles Place

Visitors ‘check-into’ The Ascott goodie bags

The campaign included web-based promotions and anonline lucky draw to win seven days free stay at TheAscott and Somerset serviced residences worldwide.Regionally, the activities also involved an advertisingblitz in business publications and increased sales visits.

At The Ascott Kuala Lumpur

A trail of roadshows with the theme “FreeYourself” hit the Raffles Place, Suntec City andOrchard Road lunchtime crowds in Singapore fromOctober to November.

The campaign aimed to vividly boost awareness ofThe Ascott and Somerset serviced residence brands.

Booths with elegant décor, scented candles and newage music set the stage for staff to introduce theserviced residences.


The Ascott Group

The Ascott Serviced ResidencesCITY PROPERTY/ADDRESS TEL FAX

Auckland The Ascott Metropolis (64-9) 300 8800 (64-9) 300 88991 Courthouse Lane, Auckland, New Zealand

Bangkok The Ascott Piraya (Opening Q2 2003)

Beijing The Ascott Beijing (86-10) 6567 8100 (86-10) 6567 81222 Dong Huan Nan Lu, Jian Guo Men Wai, Beijing 100022, China

Jakarta The Ascott Jakarta (62-21) 391 6868 (62-21) 391 33682 Jalan Kebon Kacang Raya, The Golden Triangle, Jakarta 10230, Indonesia

Kuala Lumpur The Ascott Kuala Lumpur (60-3) 2142 6868 (60-3) 2142 98889 Jalan Pinang, 50450 Kuala Lumpur, Malaysia

London The Ascott Mayfair (44-20) 7499 6868 (44-20) 7499 070549 Hill Street, Mayfair, London W1J 5NB, United Kingdom

Shanghai The Ascott Pudong (86-21) 6886 0088 (86-21) 6886 00013 Pudong Avenue, Pudong, Shanghai 200120, China

Singapore The Ascott Singapore (65) 735 6868* (65) 733 7561*6 Scotts Road, Singapore 228209

Somerset Serviced ResidencesCITY PROPERTY/ADDRESS TEL FAX

Bangkok Somerset Lake Point (66-2) 663 1234 (66-2) 663 125041 Sukhumvit Soi 16, Sukhumvit Road, Klongtoey, Bangkok 10110, Thailand

Somerset Riverton (Opening Q4 2003)

Somerset Thonglor (66-2) 714 9200 (66-2) 714 920223 Soi Chaem Chan (Soi Thonglor 20), Sukhumivit 55 RoadKlongton Nua, Wattana, Bangkok 10110, Thailand

Beijing Somerset Fortune Garden (86-10) 8451 8888 (86-10) 8451 886646 Liang Ma Qiao Road, Chaoyang District, Beijing 100026, China

Hanoi Somerset Grand Hanoi (84-4) 934 2342 (84-4) 934 234349 Hai Ba Trung Street, Hanoi, Vietnam

Somerset West Lake (84-4) 843 0030 (84-4) 823 6916254D Thuy Khue Road, Hanoi, Vietnam

Ho Chi Minh City Somerset Chancellor Court (84-8) 822 9197 (84-8) 822 921921-23 Nguyen Thi Minh Khai Street, District 1, Ho Chi Minh City, Vietnam

Somerset Ho Chi Minh City (84-8) 822 8899 (84-8) 823 44738A Nguyen Binh Khiem St, District 1, Ho Chi Minh City, Vietnam

Jakarta Somerset Grand Citra (62-21) 522 5225 (62-21) 522 3737Jl Prof Dr Satrio Kav 1, Kuningan, Jakarta 12940, Indonesia

Kuching Somerset Gateway (60-82) 250 958 (60-82) 259 9589 Jalan Bukit Mata, 93100 Kuching, Sarawak, Malaysia

London Somerset Bishopsgate (44-20) 7621 8788 (44-20) 7621 8700196 Bishopsgate, London EC2M 4NR, United Kingdom

Manila Somerset Millennium (63-2) 888 0505 (63-2) 812 7721104 Aguirre Street, Legaspi Village, Makati City 1229, Manila, Philippines

Melbourne Myer House project (Opening Q4 2002)

Shanghai Somerset Grand Shanghai (86-21) 6385 6888 (86-21) 6384 89888 Jinan Lu, Shanghai 200021, China

Somerset Xu Hui (86-21) 6466 0888 (86-21) 6466 4646888 Shanxinan Road, Springdale Block 1, Xu Hui DistrictShanghai 200031, China

The Ascott Group Limited (Corporate Office) Tel: (65) 220 8222* Fax: (65) 227 2220*Website: www.the-ascott.com

Ascott International Management Tel: (65) 220 8222* Fax: (65) 227 2220*

Central Reservations Tel: (65) 272 7272* Fax: (65) 736 9806*Email: [email protected]

* with effect from March 2002, all Singapore tel. and fax. numbers will be prefixed by ‘6’.


Other ResidencesBangkok Kallista Residences (66-2) 651 0690-7 (66-2) 651 0699

Lake Point Residences (66-2) 663 1234 (66-2) 663 1250Jakarta Country Woods (62-21) 740 1245 (62-21) 749 1365Kuala Lumpur Suasana Sentral Residences (Opening Q2 2002)

Singapore Char Yong Gardens (65) 735 5725* (65) 735 8291*Portofino (65) 736 9717* (65) 736 9806*

The HeritageThe Heritage SingaporeTEL (65) 736 9717*FAX (65) 736 9806*

The Heritage Shanghai(Opening Q2 2003)

CITY PROPERTY/ADDRESS TEL FAX

Singapore Somerset Grand Cairnhill (65) 835 2900* (65) 735 5775*15 Cairnhill Road, Singapore 229650

Somerset Compass (65) 732 7737* (65) 732 8068*2 Mt Elizabeth Link, Singapore 227973

Somerset Liang Court (65) 337 0111* (65) 336 0281*177B River Valley Road, Somerset Liang Court, Singapore 179032

Somerset Orchard (65) 735 0500* (65) 831 1811*160 Orchard Road #06-01 Orchard Point, Singapore 238842

Project at Bencoolen Street (Opening Q4 2003)

Surabaya Somerset Puri Darmo (62-31) 732 6066 (62-31) 732 628717A Jl Raya Kupang Baru, Surabaya, 60189, Indonesia

Somerset Surabaya (62-31) 732 8738 (62-31) 734 7198Jalan Raya Kupang Indah, Surabaya 60189, Indonesia

Sydney Somerset Hyde Park (61-2) 9283 8811 (61-2) 9283 8899281 Elizabeth Street, Sydney, NSW 2000, Australia

Tianjin Somerset Olympic Tower (86-22) 2335 5888 (86-22) 2335 3555126 Chengdu Dao Heping District, Tianjin 300051, China

Other Serviced Residences Managed by Ascott International Management

CITY PROPERTY/ADDRESS TEL FAX

Bangkok Omni Tower (66-2) 656 8300 (66-2) 656 8333Manila Stamford Court Salcedo (63-2) 888 6668 (63-2) 888 6655

Oakford Serviced Residences, AustraliaHobart Oakford on Elizabeth Pier (61-3) 6220 6600 (61-3) 6224 1277

Elizabeth Street Pier, Hobart, TAS 7000, Australia

Oakford on Salamanca (61-3) 6220 6600 (61-3) 6224 12778 Salamanca Place, Hobart, Australia

Melbourne Oakford on Collins (61-3) 9639 1811 (61-3) 9639 2423182 Collins Street, Melbourne, VIC 3000, Australia

Oakford Gordon Towers (61-3) 9663 3317 (61-3) 9663 109543 Lonsdale Street, Melbourne, VIC 3000, Australia

Oakford on Lygon (61-3) 8341 4777 (61-3) 8341 47992- 9 Finlay Place, Carlton, VIC 3053, Australia

Oakford The Mews (61-3) 9823 8888 (61-3) 9823 88999 Balmoral Street, South Yarra, VIC 3141, Australia

Oakford Ultimate (61-3) 9823 8888 (61-3) 9823 8899Cnr Cromwell Road and Surrey Road North, South Yarra, VIC 3141, Australia

Sydney Oakford Darling Harbour (61-2) 8280 5000 (61-2) 8280 5050252 Sussex Street, Darling Harbour, NSW 2000, Australia

Oakford Potts Point (61-2) 9358 4544 (61-2) 9357 116210 Wylde Street, Potts Point, NSW 2011, Australia

Oakford City West (61-2) 9557 6100 (61-2) 9557 609923-33 Missenden Road, Camperdown, NSW 2050, Australia

Central Apartments, UKLondon Chequers (44-20) 7969 3555 (44-20) 7969 3501

58-66 Cromwell Road, Kensington, London, SW7 5DA, United Kingdom

Princes Square I (44-20) 7313 7888 (44-20) 7313 788974-76 Princes Square, London, W2 4NP, United Kingdom

Princes Square II (Opening Q1 2002)

Grand Plaza (Opening Q1 2003)

Roland House (44-20) 7341 6800 (44-20) 7341 6801121 Old Brompton Road, South Kensington, London, SW7 3RX, United Kingdom

Glasgow Property at Albion Street (Opening Q1 2003)

Manchester The Atrium (44-161) 235 2000 (44-161) 235 200174 Princess Street, Manchester, M1 6JD, United Kingdom

Corporate Leasing


The Ascott GroupNo 8 Shenton Way #13-01

Temasek Tower Singapore 068811Tel: (65) 220 8222 Fax: (65) 227 2220

Website: www.the-ascott.com

No part of this publication may be quoted or reproduced without the prior permission of the copyright holders, The Ascott Group. Printed by Ad Graphic Pte Ltd

Ascott Living is a newsletter of The Ascott Group

If you have queries or contributions for the newsletter, please call thegroup’s Investor Relations & Corporate Communications departmentat tel: (65) 586 7232 or email: ir&[email protected]

Somerset ThonglorTel: (66-2) 714 9200

S$249 studio suiteS$299 1-bedroom suiteS$359 2-bedroom suiteS$399 3-bedroom suite

BANGKOK

Vibrant Vietnam PackagePer Suite NightUntil Feb 28, 2002

HANOI

Somerset Grand HanoiTel: (84-4) 934 2342

US$80 1-bedroom suiteUS$90 2-bedroom suiteUS$140 3-bedroom suite

Somerset West LakeTel: (84-4) 843 0030

US$75 1-bedroom suiteUS$85 2-bedroom suiteUS$140 3-bedroom suite

HO CHI MINH CITY

Somerset Ho Chi Minh CityTel: (84-8) 822 8899

US$83 2-bedroom suiteUS$100 3-bedroom suite

Somerset Chancellor CourtTel: (84-8) 822 9197

US$75 1-bedroom suiteUS$80 2-bedroom suiteUS$100 3-bedroom suitePackage includes• one-way airport transfer• fitness centre, recreational facilities

SYDNEY

AUSTRALIA

THAILAND

VIETNAM

Somerset Lake Point

Somerset Lake PointTel: (66-2) 663 1234

S$300 studio suiteS$350 1-bedroom suiteS$450 2-bedroom suite

Be Our Guest Holiday Special4 Days 3 Nights Until Feb 28, 2002

Family Value Package2 Nights For 2 Adults &2 Children Under 12 YrsUntil Mar 31, 2002

Oakford City WestTel: (61-2) 9557 6100Oakford Potts PointTel: (61-2) 9358 4544Oakford Darling HarbourTel: (61-2) 8280 5000

A$315 at Oakford City WestA$335 at Oakford Potts PointA$375 at Oakford Darling HarbourPackage includes• family pass to Sydney Aquarium

or Matilda Cruise• complimentary continental breakfast• late check-out

Oakford Darling HarbourTel: (61-2) 8280 5000Oakford Potts PointTel: (61-2) 9358 4544Oakford City WestTel: (61-2) 9557 6100Oakford on CollinsTel: (61-3) 9639 1811Oakford GordonTowersTel: (61 3) 9663 3317

FESTIVE PROMOTIONS

Package includes• one-way airport transfer• complimentary daily

breakfast• food & beverage discounts• discount for tours / Thai

massage / hair salon• one-way van transfer to a

location of choice

SINGAPORE

Festive Package2-Bedroom Suite Per NightUntil Mar 31, 2002

The Ascott Singapore S$250Somerset Grand Cairnhill S$220Somerset Compass S$220Somerset Orchard S$185Somerset Liang Court S$180Central ReservationsTel: (65) 272 7272

Package includes• two-way airport transfer• S$75 Amrita Spa voucher• complimentary daily continental breakfast

(except Sat, Sun & Public Holidays)• gym, pool

SYDNEY / MELBOURNE / HOBART

Passionate EncountersPackage UntilMar 31, 2002One-bedroom suite atA$199 per night

Oakford DarlingHarbourTel: (61-2) 8280 5000

Package includes• bottle of wine and

chocolates on arrival• complimentary breakfast• heated pool, spa,

sauna, gym• late check-out

Omni TowerTel: (66-2) 656 8300

S$233 studio suiteS$270 1-bedroom suiteS$420 2-bedroom suite

Book your favourite package

with Central Reservations

tel: (65) 272 7272 or call

the serviced residences.

Golf Lovers 2 Nights Package Until Mar 31, 2002

MANILA

Experience Manila PackagePer Suite NightUntil Feb 28, 2002

Stamford Court SalcedoTel: (63-2) 888 6668

US$60 studio suiteUS$85 1-bedroom suiteUS$155 2-bedroom suiteUS$170 3-bedroom suitePackage includes• complimentary daily continental

breakfast for two persons• daily maid service• welcome fruit platter• health club, residents’ lounge

PHILIPPINES

KUCHINGDouble Bonus3 Days 2 Nights PackageUntil Feb 28, 2002

Somerset GatewayTel: (60-82) 250 958

RM$228 deluxe roomRM$488 2-bedroom suiteRM$668 3-bedroom suitePackage includes• complimentary coffee,

tea-making facilities• late check-out

MALAYSIA

Oakford on LygonTel: (61-3) 8341 4777Oakford The MewsTel: (61-3) 9823 8888Oakford UltimateTel: (61-3) 9823 8888Oakford on Elizabeth PierTel: (61-3) 6220 6600

Package includes• free Wilson Graphite Golf Club• free bottle of wine on arrival• complimentary daily breakfast

for 1 person

One-bedroom suite atA$199 per night

ascott establishes leadership · 37 units in london’s fashionable notting hill district oakford...

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