Ascott Targets 12,000 Keys in India by 2028, Fueled by Domestic Tourism

Ascott, a global hospitality leader and subsidiary of Singapore-based CapitaLand Investment, aims to double its India portfolio to 12,000 keys by 2028, fueled by growing domestic tourism and a shortage of branded accommodations.

Currently, Ascott operates seven serviced apartment properties across six Indian cities and manages over 980 properties worldwide across segments including serviced residences, hotels, resorts, and social living spaces. The company announced its India expansion at the Hotel Investment Conference South Asia in Mumbai.

In Q1 2025, Ascott signed agreements for three new properties in Goa, Lucknow, and Thanjavur, adding 600 keys and raising its total operational and pipeline portfolio in India to 6,100 keys across 22 properties.

Presently, 85% of Ascott’s India portfolio is concentrated in Tier-I cities such as Bengaluru, Chennai, and Hyderabad. Future plans include expanding into both metro and Tier-II and III cities.

Ascott operates in India under the Citadines, Oakwood, and Somerset brands. To align with evolving travel trends, it will soon introduce its 'lyf' brand, catering to millennial and Gen Z travelers seeking social, community-focused living experiences.

News by Rahul Yelligetti.