Ascott Debuts in North India with Premiere Serviced Apartments in Gurugram

In a significant move marking its entry into North India's bustling hospitality market, Singapore-based The Ascott Limited, in collaboration with Paras Buildtech, has unveiled its latest venture, Citadines Paras Square Gurugram. This initiative not only expands Ascott's footprint in India but also introduces a premium lodging option to Gurugram's dynamic landscape.

Strategic Location and Luxurious Amenities

Nestled in the upscale commercial hub of Golf Course Extension Road, Sector 63A, Citadines Paras Square Gurugram is poised to cater to the sophisticated needs of both business and leisure travelers. As part of the mixed-use development by Paras Buildtech, the property boasts 94 fully-equipped studios, one-bedroom, and two-bedroom apartments. Each apartment features a fully-equipped kitchenette, catering to the convenience of guests. The property also offers a range of on-site amenities including meeting spaces, a fitness centre, an all-day dining multi-cuisine restaurant, an outdoor swimming pool, and a guest lounge.

A Growing Hospitality Market

Vincent Miccolis, Managing Director of Middle East, Africa, Turkey, and India for Ascott, highlighted Gurugram's rapid growth as a key factor in the company's expansion strategy. With India's hospitality market expected to witness a revenue growth of 11-13% in 2024-25, Ascott aims to capture a significant share through its ambitious target of opening 10 new properties in India by 2027. This expansion is driven by a buoyant economy, rising disposable incomes, and an increasing demand for serviced residences.

A Partnership for Growth

The collaboration between The Ascott Limited and Paras Buildtech is seen as a strategic move to address the evolving needs of Gurugram's Global Capability Centre (GCC) and technology hub clientele. Kunal Rishi, COO of Paras Buildtech, expressed confidence in Citadines Paras Square Gurugram becoming the preferred accommodation for businesses and their mobile workforces, aligning with the region's hospitality growth vision.

Ascott's Global and Local Footprint

With Citadines Paras Square Gurugram, Ascott marks its first hotel venture in North India, expanding its India portfolio to 18 properties across Bangalore, Hyderabad, Pune, Goa, and Chennai. Since its inception in 1984 with The Ascott Singapore, Ascott has evolved into a leading hospitality entity, managing over 940 properties globally across more than 220 cities in over 40 countries. Its diverse accommodation offerings range from serviced residences and coliving properties to hotels, senior living apartments, and student accommodation.

This venture not only signifies Ascott's commitment to the Indian market but also positions Gurugram as a key player in the country's hospitality sector, setting a new benchmark for luxury and convenience in serviced apartments.