· Inks three signings in Q1 2025 to add 600 units under the Oakwood brand, bringing Ascott’s current portfolio in India to ~6,100 units
· Introduces lyf, The Crest Collection and The Unlimited Collection brands to cater to the evolving needs of next-gen travellers and address the growing demand for authentic Indian heritage and cultural experiences
MUMBAI, INDIA / SINGAPORE – Media OutReach Newswire – 10 April 2025 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), plans to double its portfolio in India to 12,000 units by 2028, up from about 5,500 units at the end of 2024. This was announced at the 20th Hotel Investment Conference – South Asia (HICSA), in Mumbai, where Ascott’s Chief Executive Officer Kevin Goh spoke on the topic of ‘Redefining Global Living’ – expounding on how global living today has become a reflection of how people live, work, and travel seamlessly across borders. On the back of favourable growth prospects in the Indian hospitality market, Ascott is riding on a strong momentum in the first quarter of 2025 with three signings in Goa, Lucknow and Thanjavur. These signings collectively added 600 units to Ascott’s India portfolio, which now totals about 6,100 units across 22 properties, including both operating and in the pipeline.
Mr Kevin Goh, Chief Executive Officer, Ascott said: “India is an important inbound and outbound market for Ascott, with strong growth potential as it continues to evolve into one of the world’s largest economies. With a rapidly growing middle class, increasing disposable incomes and improving infrastructure, India’s dynamic economic landscape is unlocking immense opportunities for its travel and hospitality sectors. Despite promising prospects, the supply of branded hotel rooms in India remains limited[1], creating a significant demand-supply gap that opens up tremendous potential for Ascott to contribute to the country’s hospitality growth.”
