HBI Staff | Hyderabad 
Singapore-based hospitality giant, The Ascott Limited, has expanded its presence in India by launching its first serviced apartments in North India. The company partnered with local developer Paras Buildtech to unveil Citadines Paras Square Gurugram, a new apart’hotel situated in the city’s upscale commercial hub, Golf Course Extension Road.
Citadines Paras Square Gurugram offers 94 fully-equipped apartments, catering to both business and leisure travelers. The property features studio, one-bedroom, and two-bedroom layouts, all equipped with kitchenettes and modern amenities. Guests can also access on-site facilities such as meeting spaces, a fitness center, a multi-cuisine restaurant, an outdoor swimming pool, and a guest lounge.
Vincent Miccolis, Managing Director of Middle East, Africa, Turkey and India for Ascott, highlighted the company’s strategic move. “Gurugram is experiencing phenomenal growth,” he said, “and this expansion is part of our goal to capture a larger share of India’s dynamic hospitality market, which is expected to see revenue growth of 11-13% in 2024-25.”
Miccolis further emphasized India’s importance to Ascott’s global growth strategy. “India is a key driver for us,” he stated. “We aim to open 10 new properties by 2027, reflecting our strong belief in the immense potential of the Indian market fueled by economic growth, rising incomes, and increasing demand for serviced residences.”
Kunal Rishi, COO of Paras Buildtech, expressed delight at the collaboration. “This offering directly caters to the evolving needs of Gurugram’s booming Global Capability Centre (GCC) and technology hub clientele,” he said. “By providing a strategically located, fully-serviced residence solution with exceptional amenities, we are confident Citadines Paras Square Gurugram will become the preferred accommodation partner for these businesses and their mobile workforces.”
Citadines Paras Square Gurugram marks the 18th property in Ascott’s India portfolio, which already includes locations in Bangalore, Hyderabad, Pune, Goa, and Chennai. Globally, Ascott boasts over 940 properties across more than 40 countries, offering a diverse range of accommodation options, including serviced residences, coliving spaces, hotels, and senior living apartments.
This expansion strengthens Ascott’s presence in the Indian market, positioning the company to tap into the growing demand for serviced apartments, particularly in key business hubs like Gurugram.
