Ascott Debuts in North India with the Grand Opening of Citadines Paras Square Gurugram
The Ascott Limited (Ascott), CapitaLand Investment Limited's lodging business unit, has announced the grand opening of Citadines Paras Square Gurugram. This marks Ascott's exciting debut in North India.
Designed for business travelers seeking a blend of comfort and exceptional service, Citadines Paras Square Gurugram boasts a prime location in the heart of Gurugram's dynamic commercial hub. The aparthotel offers scenic views of the Aravalli Hills and convenient access to Delhi-NCR via highways and metro.
Featuring 94 stylishly furnished studios, one-bedroom, and two-bedroom apartments, Citadines Paras Square Gurugram caters to both business and leisure travelers. Each apartment comes with a fully equipped kitchenette, providing guests with the flexibility of dining in. For those seeking to unwind after a busy day, the property offers a variety of amenities.
A Strategic Expansion in a Growing Market
Ascott sees immense potential in the Indian hospitality market, projected for significant revenue growth in the coming years. The opening of Citadines Paras Square Gurugram reflects their commitment to capturing a larger share of this dynamic market.
"India is a key driver of our global growth footprint," said Mr. Vincent Miccolis, managing director of the Middle East, Africa, Turkey, India, and Ascott. "We have a target of opening 10 new properties in India by 2027. This ambitious target reflects our strong belief in the potential of the Indian hospitality market."
A Milestone for Ascott
"We are delighted to partner with The Ascott Limited for the launch of the first Citadines of North India," said Mr. Aman Nagar, Joint Managing Director, Paras Buildtech. "Citadines Paras Square Gurugram caters directly to the evolving needs of Gurugram's growing business community. We are confident this new property will be the preferred accommodation partner for businesses and their mobile workforces."
The opening of Citadines Paras Square Gurugram marks a significant milestone for Ascott. With this new property, Ascott's portfolio in India now boasts a total of 18 properties, both operational and under development, across major cities like Bangalore, Hyderabad, Pune, Goa, Chennai, and Gurugram.
Investor
The Ascott Limited (Ascott)
CapitaLand Investment Limited
Outbound region
Inbound region
Industry
Date of record
5 April 2024
