Ascott Expands Footprint in India

The management agreement consolidates Ascott’s foray into a new city in India, Goa, and increases its India portfolio to over 1500 units across nine properties in six cities.

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CAPITALAND'S WHOLLY owned lodging business unit, The Ascott Limited (Ascott), announced that it has secured a contract to manage two Citadines-branded serviced residences in Goa. The contract was awarded by PriParth Developers LLP, a subsidiary of Pune-based Niche Realtors. The management agreement consolidates Ascott’s foray into a new city in India, Goa, and increases its India portfolio to over 1500 units across nine properties in six cities.

The 148-unit Citadines Calangute Goa will open in 2021, while the 83-unit Citadines Candolim Goa is set to open in 2022. Located in two prime tourist locations with in Goa, the upcoming Citadines Calangute Goa and Citadines Candolim Goa will comprise spacious and modern, fully-furnished serviced residences ranging from 38 sq.mt. to 90 sq.mt. 

Residents will enjoy entertainment, recreational and business facilities along with the Ascott’s signature service excellence. Thomas Wee, Ascott’s Managing Director for the Middle East, Africa, Turkey and India said: “Goa, is a top tourist destination in India for both domestic and foreign tourism. It is also popular with both Indian and MNC companies operating in India as their off-site team bonding destination. Due to improved air connectivity and consistent tourism growth, Goa airport attracts around 7.7 million passengers per annum* and this number is steadily growing year on year. The new airport is expected to fuel more tourist traffic growth in the region because of the increase in handling capacity.” 

B.V. Bharadwaja, Ascott’s Country Head - India, said, “The signing of the management agreement for Citadines Calangute Goa and Citadines Candolim Goa marks the entry of the Goa’s first international branded serviced residence operator. Located in the prime tourist spots of Goa, the serviced residences will provide spacious studio, one- and two- bedroom apartments to both leisure and corporate travellers. We look forward to providing guests with Ascott’s world-renowned hospitality.” 

Dinesh Chhutani, Partner and Executive Director of PriParth Developers LLP, said, “We are proud to be partnering with The Ascott Limited for the management of these properties. Ascott’s knowledge of the serviced residences market and its global reputation is consistent with our quest of greater excellence and efforts to reach the next level of hospitality.”


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