Ascott to Double India Portfolio, Expand into Tier 2 Cities.

Global hospitality firm Ascott Ltd plans to double its India portfolio to 12,000 keys by 2028, aiming to capitalise on the rising demand for domestic tourism.

A subsidiary of Singapore-based CapitaLand Investment, Ascott operates 980 properties worldwide across serviced apartments, hotels, resorts, and social living spaces. In India, the company currently runs seven serviced residences across six cities.

The expansion plan was announced at the Hotel Investment Conference South Asia held in Mumbai on Thursday, with the company also indicating a strategic focus on tier 2 cities to broaden its footprint in the country.

HBL