The Ascott Group has won a new contract to manage a 175-unit serviced residence in the prime Tianhe district in Guangzhou's CBD. This is just three months after Ascott's entry into Guangzhou in January, with the strategic acquisition of a stake in the 192-unit The Ascott Guangzhou in Tianhe East Road, often called the 'Wall Street' of Guangzhou.

The new property, called Tian Wen Yuan serviced residence, will soft-open in August and strengthen Ascott's presence in the city's prime commercial and residential area. It is close to office towers with financial institutions and multinational companies, the new Guangzhou East Train Station, Tianhe Sports Centre, Metro stations and shopping centres. Ascott also recently won two prestigious awards in China.

Its chief executive officer, Mr Cameron Ong, was conferred the 'Hospitality Excellence Award' at the China Hotel Investment Summit (Apr 28) in Shanghai. It also clinched first position in the China's 'Top 100 Serviced Residences' ranking in Beijing (Apr 22), beating over 1,000 serviced residences to top the ranking.

The Hospitality Excellence Award was given in recognition of Mr Ong's role in cultivating the leadership position of Ascott in China's serviced residence industry. Ascott was also recognised for setting new industry benchmarks with its outstanding service standards. More than 280 senior executives from the hospitality and real estate industries in the region were at the two-day conference.

The 'China's Top 100 Serviced Residences' ranking was organised by leading business and real estate publications and associations such as China Business Times, China Real Estate Federation and World Real Estate Academy. It was based on evaluations by real estate experts and readers' votes.