Ascott aims to double India portfolio to 12,000 units by 2028
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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.
The Ascott Limited (Ascott) plans to double its portfolio in India to 12,000 units by 2028, up from about 5,500 units at the end of 2024. Ascott is said to be 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.
Kevin Goh, Chief Executive Officer, Ascott said: “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 , creating a significant demand-supply gap that opens up tremendous potential for Ascott to contribute to the country’s hospitality growth.”
“As diverse demand drivers fuel India’s hospitality sector, Ascott is well-positioned to capitalise on this growth with our flex-hybrid model that seamlessly adapts to shifting demand across both transient and extended stays. This competitive edge is reinforced by Ascott’s multi-typology brand strategy, enabling us to serve every type of guest with a diverse portfolio ranging from select- to full-service operations. As we strengthen our brand presence in India, we believe the country will become a key source market for Ascott’s properties worldwide,” added Goh.
Lee Ngor Houai, Chief Operating Officer, Europe, Middle East, Africa (EMEA), South Asia and China, Ascott, said: “Moving forward, our growth strategy in India will be driven by a dual focus on geographic and brand expansion. Currently, 85% of Ascott’s operating portfolio in India are concentrated in Tier-1 cities such as Bangalore, Chennai and Hyderabad. We will continue to strengthen our presence in these high-performing Tier-1 cities, while also expanding our focus on the fast-growing Tier-2 and Tier-3 cities. This strategy is driven by growing interest in India’s lesser-travelled destinations and the significant under-penetration of branded hotels in these cities.”
“In addition to growing our Ascott, Citadines, Oakwood and Somerset brands already in India, we look forward to launching more of our multi-typology brands here. We see strong potential in introducing lyf, our experience-led social living brand, to tap into the rise of India’s urban millennial and Gen Z workforce, along with the growing digital nomad trend. As demand for flexible, community-focused stays grows, lyf aligns perfectly with India’s next-gen travellers. Furthermore, our collection brands, The Unlimited Collection and The Crest Collection, are poised to meet the rising demand for immersive cultural and heritage experiences in India, turning stays into unforgettable journeys,” added Lee.
Ascott is strengthening its presence in Goa with the signing of the 150-key Oakwood Sensation Dona Paula Goa. With a range of room configurations, in-house F&B outlets and meeting spaces, Oakwood Sensation Dona Paula Goa aims to meet the needs of both short and long stays, a blend of business and relaxation. The property is slated to welcome guests from 2028.
This signing joins the earlier announced Oakwood Thanjavur and Oakwood Ekana Sportz City Lucknow. Oakwood Thanjavur, a 100-unit property, is a collaboration between Ascott and Sensation Hospitality Avenues. Set to open in 2028, it will mark Ascott’s debut in Thanjavur.
Opening at the end of 2029, Oakwood Ekana Sportz City Lucknow is in Lucknow. The 350-unit Oakwood property will offer premium hospitality to sports enthusiasts, corporate travellers and leisure guests. This signing marks Ascott’s inaugural partnership with Ekana Infra Projects and its first venture into Lucknow.