The Ascott Limited (Ascott), a CapitaLand Investment-owned lodging business, has announced ambitious plans to double its India portfolio to 12,000 units by 2028, up from 5,500 units at the end of 2024. Speaking at the 20th Hotel Investment Conference – South Asia (HICSA) in Mumbai, Ascott CEO Kevin Goh outlined the company’s strategy to capitalize on India’s booming hospitality market and its growing demand for branded accommodations.
In the first quarter of 2025, Ascott added 600 units to its portfolio with three new signings in Goa, Lucknow, and Thanjavur, increasing its footprint to 6,100 units across 22 properties, both operational and in the pipeline. The company’s flex-hybrid model is key to its growth, offering versatile options for transient and extended stays.
“India’s growing middle class, rising disposable incomes, and improving infrastructure present immense opportunities for hospitality,” said Kevin Goh. “With a demand-supply gap in branded accommodations, Ascott is well-positioned to address this through our multi-typology brands and deep local expertise.”
Ascott’s COO for EMEA, South Asia, and China, Lee Ngor Houai, emphasized the brand’s focus on Tier-2 and Tier-3 cities, citing significant under-penetration in these markets. Recent signings include the 150-key Oakwood Sensation Dona Paula in Goa, the 100-unit Oakwood Thanjavur, and the 350-unit Oakwood Ekana Sportz City in Lucknow.
Looking ahead, Ascott plans to launch its experience-driven “lyf” brand and expand its heritage-focused Crest and Unlimited collections in India, catering to millennials, Gen Z, and cultural enthusiasts. With a strategic mix of geographic and brand expansion, Ascott aims to cement its position as a leader in India’s hospitality landscape.
