Ascott Opens Second Citadines-Branded Serviced Residence In Australia

February 28, 2014 - CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited has launched its second Citadines Apart'hotel in Australia. The new Citadines St Georges Terrace Perth has opened following an AUD$5.1 million and five-month refurbishment of the former Somerset St Georges Terrace Perth.

Located in the centre of the vibrant city of Perth, Citadines St Georges Terrace is the perfect home-base from which to experience modern city living in Australia. Upon entering the main lobby, guests experience a welcoming oasis of calm. A collection of contemporary art pieces by local artists Nick Statham and Kyle Hughes-Odgers express the energy and verve that Perth has to offer and are featured in the lobby and apartments. Inspired by Perth's skyline and bustling nightlife, the designers used a dark grey base with pops of crimson or yellow to bring the perfect marriage of calmness and contemporary chic into the property's 85 studio and one-bedroom apartments.

Citadines is located in the heart of Perth's Business District, the perfect position for doing business in the city. Its prime location is within walking distance to art galleries, restaurants, bars, department stores and many quality boutiques at Murray Street and Hay Street Malls. To complete the picture perfect setting, the property is just a street away from the Esplanade that overlooks the Swan River.

Citadines St Georges Terrace Perth is the second Citadines-branded property in Australia after the award-winning Citadines on Bourke Melbourne which opened in 2010.

Mr Kenneth Rogers, Ascott's Regional General Manager for Australia and Indonesia, said: "We have rebranded Somerset St Georges Terrace Perth to a Citadines to cater to the growing demand from savvy independent travellers in Australia who value the flexibility to choose the services they require to personalise their stay. Our Citadines on Bourke in Melbourne which is popular among these travellers has been performing well with occupancy of over 80%. Bringing Citadines to Perth will enable us to strengthen our foothold in the city as demand for serviced residences remain strong from the resource and mining sectors."

Mr Rogers added: "The newly refurbished Citadines is an ideal home away from home for expatriates and business travellers. It has a vibrant design and features a comfortable living environment with a spacious apartment with fully equipped kitchen/kitchenette and unique living areas. Each apartment is equipped with modern amenities such as complimentary WIFI, a home entertainment system with DVD player and flat-screen television with cable channels."

Ascott acquired the established Citadines chain of Apart'hotels in Europe in 2002 and brought the brand to Asia-Pacific in 2006. With the launch of Citadines St Georges Terrace Perth, there are 61 Citadines-branded properties in key cities around the world. In the next few years, Ascott is scheduled to open 17 more Citadines properties in China, India, Indonesia, Malaysia, the Philippines, Thailand, Saudi Arabia and Germany.

Besides Citadines St Georges Terrace Perth, Ascott operates Citadines on Bourke and Somerset on Elizabeth Melbourne and Somerset on the Pier and Somerset on Salamanca in Hobart, in Australia.

For reservations or more information, please visit www.citadines.com.

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has about 23,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 10,000 units which are under development, making a total of more than 33,000 units in over 200 properties.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans 82 cities across more than 20 countries, 21 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 30-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Ascott's achievements have been recognised internationally. Recent awards include World Travel Awards 2013 for 'World's Leading Serviced Apartment Brand' and 'Leading Serviced Apartment Brand' in Asia and Europe, DestinAsian Readers' Choice Awards 2013 for 'Best Serviced Apartment/Residence Operator', Business Traveller Asia-Pacific Awards 2013 for 'Best Serviced Residence Brand' and 'Best Serviced Residence', Business Traveller China Awards 2013 for 'Best Serviced Residence Brand', Business Traveller UK Awards 2013 for 'Best Serviced Apartment Company' and TTG China Travel Awards 2013 for 'Best Serviced Residence Operator in China'.

Visit www.the-ascott.com for more information and connect with us on social media at www.the-ascott.com/connect.

About CapitaLand Limited

CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's businesses in real estate and real estate fund management are focused on its core markets of Singapore and China.

The company's diversified real estate portfolio primarily includes homes, offices, shopping malls, serviced residences and mixed developments. The company also has one of the largest real estate fund management businesses with assets located in Asia. CapitaLand leverages its significant asset base, real estate domain knowledge, product design and development capabilities, active capital management strategies and extensive market network to develop real estate products and services in its markets.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, Ascott Residence Trust, CapitaCommercial Trust, CapitaMall Trust, CapitaMalls Malaysia Trust, CapitaRetail China Trust and Quill Capita Trust.