In a strategic move to expand its footprint in one of Asia’s fastest-growing hospitality markets, The Ascott Limited, a wholly owned subsidiary of CapitaLand Investment, has announced plans to double its portfolio in India to 12,000 units by 2028. The announcement was made at the 20th Hotel Investment Conference – South Asia (HICSA) in Mumbai, where CEO Kevin Goh outlined the company’s roadmap under the theme “Redefining Global Living.”
With approximately 5,500 units already in operation at the close of 2024, Ascott is rapidly scaling up, having recently signed three new Oakwood-branded properties in Goa, Lucknow, and Thanjavur, contributing 600 additional units. This brings the company’s total Indian portfolio to around 6,100 units across 22 properties.
Mr. Goh emphasized India’s pivotal role in Ascott’s global growth strategy. “India’s expanding middle class, increasing disposable incomes, and rapid infrastructure development are driving strong demand for quality hospitality. The supply of branded hotel rooms remains limited, and Ascott is uniquely positioned to meet this demand,” he said.
Ascott is also capitalising on India’s rise as a key outbound travel market. With a young, travel-savvy population and growing leisure spending, the company is leveraging its 14-brand global portfolio to attract Indian travellers to its international properties.
In terms of recent milestones, Ascott opened its first Tier-2 city property, Citadines Arpora Nagoa Goa, and signed new projects in Navi Mumbai, Electronic City (Bangalore), and Faridabad. Looking ahead, the group aims to operate 11 properties in India by 2026, which will include the debut of Ascott Ireo City Gurugram—marking the first property under its flagship ‘Ascott’ brand in the country.
With a clear long-term vision and a strong regional strategy, Ascott is not only redefining the hospitality experience within India but is also positioning the country as a vital node in its global travel network. As domestic and outbound travel trends continue to rise, Ascott’s focused investment and tailored offerings are set to unlock new dimensions of growth in the Indian market.
