Ascott Plans to Double India Portfolio to 12,000 Units by 2028

The Ascott Limited (Ascott) has announced plans to significantly expand its presence in India, aiming to double its portfolio to 12,000 units by 2028, up from approximately 5,500 units by the end of 2024.

This ambitious growth strategy comes on the back of strong prospects in the Indian hospitality market, which continues to show favourable trends for expansion. The company is already seeing momentum in 2025, having secured three new signings in key cities: Goa, Lucknow, and Thanjavur.

These new agreements will add 600 units to Ascott's India portfolio, which now totals around 6,100 units across 22 properties, including operational sites and those in development. Ascott's focus on meeting the evolving needs of global travellers, who increasingly seek seamless experiences across work, travel, and living, positions the company for continued success in the Indian market.

Kevin Goh, Chief Executive Officer of 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, 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. Backed by the in-market expertise of our local team in India, we are confident in delivering exceptional value to our owners while enhancing the guest experience. 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 is 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.

This signing joins the earlier announced Oakwood Thanjavur and Oakwood Ekana Sportz City Lucknow. Like Oakwood Sensation Dona Paula Goa, Oakwood Thanjavur is a collaboration between Ascott and Sensation Hospitality Avenues. Set to open in 2028, it will mark Ascott’s debut in Thanjavur, a Tier-3 city known as a vibrant artistic hub. The 100-unit property will showcase Ascott’s commitment to providing culturally immersive stay experiences in key emerging destinations across India.

Opening at the end of 2029, Oakwood Ekana Sportz City Lucknow is in Lucknow, the capital of Uttar Pradesh and a rapidly growing Tier-2 city undergoing significant infrastructure development. Situated within Ekana Sportz City, which boasts world-class sporting venues like the Ekana Cricket Stadium, along with residential, commercial, hospitality and medical facilities, 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, underscoring its commitment to expanding in emerging, high-potential markets.

Looking ahead to 2026, Ascott expects to grow its operational portfolio in India by almost 60%, expanding from seven to 11 properties. This includes the debut of Ascott Ireo City Gurugram, marking the inaugural property under the company’s namesake Ascott brand in India. Strategically located in the heart of Ireo City, this property will capture the vibrant, modern spirit of Gurugram, further enhancing Ascott’s footprint in India’s key urban centres.