Singapore Based Ascott Unveils Premier Serviced Apartments in Gurugram, Expanding its Indian Portfolio

Singapore's renowned hospitality leader, The Ascott Limited, marks its grand entrance into North India through a strategic alliance with Paras Buildtech, launching the exquisite Citadines Paras Square Gurugram. This venture introduces Ascott's first hotel in the vibrant region, expanding its illustrious Indian portfolio to encompass 18 properties scattered across Bangalore, Hyderabad, Pune, Goa, and Chennai.

Owned entirely by CapitaLand Investment Limited, The Ascott Limited continues to redefine lodging excellence globally.

Citadines Paras Square Gurugram

Strategically positioned in Gurugram's upscale commercial hub on Golf Course Extension Road, sector 63A, Citadines Paras Square Gurugram emerges as Ascott's latest apart’hotel masterpiece. This property, nestled within the dynamic Paras Square mixed-use development by Paras Buildtech, sets a new standard in luxury and convenience.

Designed for Modern Travelers

The apart’hotel boasts an impressive array of 94 fully-equipped studios, one-bedroom, and two-bedroom apartments, designed meticulously to cater to the nuanced needs of both business and leisure travelers. Guests can enjoy the luxury of fully-equipped kitchenettes and an array 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, ensuring a stay that combines comfort with unparalleled convenience.

Ascott's Ambitious Vision for India

Vincent Miccolis, Ascott's Managing Director for the Middle East, Africa, Turkey, and India, shared insights into the company's expansion strategy. Gurugram's exceptional growth trajectory presents a golden opportunity for Ascott to capture a larger segment of India's flourishing hospitality market, with anticipated revenue growths of 11-13% in 2024-25.

"Miccolis expressed excitement about the launch of Citadines Paras Square Gurugram, positioning India as a pivotal market in Ascott's global expansion plans. With a target to unveil 10 new properties in India by 2027, Ascott's strategy mirrors its confidence in the Indian market's potential, driven by economic growth, rising disposable incomes, and an increasing demand for serviced residences."

"Kunal Rishi, COO of Paras Buildtech, expressed the group's enthusiasm for partnering with The Ascott Limited to introduce North India's first Citadines at Paras Square Gurugram. He highlighted the project's alignment with the evolving needs of Gurugram's Global Capability Centre (GCC) and technology hub clientele, offering a strategic, fully-serviced residence solution.

Rishi is confident that Citadines Paras Square Gurugram will become the preferred accommodation for businesses and their mobile workforces, contributing significantly to the region's hospitality landscape growth."