Shares & Derivatives
Ascott REIT – Presentation by CEO Tay Boon Hwee
By Financial Freedom  •  November 22, 2012
CEO Tay Boon Hwee of Ascott REIT gives a presentation and gives a good detailed explanation of Ascott REIT's business and how it differs from a hotel and a normal condominium.  Here are the few points that were made during the video:
  • Sponsor of Ascott REIT is Ascott Limited.  Ascott Ltd is o world's largest serviced residences owner and operator.
  • 7260 units across 24 cities in 12 countries in Asia Pacific and Europe
  • Operates under the brands of The Ascott Residence, Citadines and Somerset Residence
  • $2.9bil portfolio
  • Major shareholder is Capitaland which owns 49% of Ascott REIT
What is a serviced residence?
A hybrid between hotel and apartment.  Provides the comforts of an apartment and essential services one will expect to see at a hotel. like laundry, daily housekeeping and limited F&B services.
Key differences  lies in the lease structure.  Hotels cater for short term stay ranging from one ...
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By Financial Freedom
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