India: The Ascott Limited, the lodging business owned by CapitaLand Investment Limited, in partnership with developer Paras Buildtech, have opened a Citadines aparthotel in Gurugram, India.
Citadines Paras Square Gurugram forms part of the mixed-use development Paras Square by Paras Buildtech, located at sector 63A Gurugram.
The aparthotel features 94 fully-equipped studios, one and two-bedroom apartments, catering to both business and leisure travellers.
It marks the first hotel in North India under Ascott India’s portfolio. Elsewhere in the country, the group has 18 properties across Bangalore, Hyderabad, Pune, Goa and Chennai.
Vincent Miccolis, managing director of Middle East, Africa, Turkey and India for Ascott, said: “We’re thrilled to unveil Citadines Paras Square Gurugram in the heart of India’s Millennium City. Gurugram is experiencing phenomenal growth, and this expansion is part of our goal to capture a larger share of India’s dynamic hospitality market, which is expected to clock 11-13 per cent revenue growth in 2024-25.
“India is a key driver of our global growth footprint, with a target of opening 10 new properties in India by 2027. This ambitious target reflects our strong belief in the immense potential of the Indian hospitality market, fuelled by a booming economy, rising disposable incomes, and a growing demand for serviced residences. The opening of Citadines Paras Square Gurugram marks a significant milestone in this exciting journey,” he added.
Kunal Rishi, COO, Paras Buildtech, said: “We are delighted to partner with The Ascott Limited for the launch of the first Citadines of North India at Paras Square Gurugram. This innovative offering caters directly to the evolving needs of Gurugram’s burgeoning Global Capability Center (GCC) and technology hub clientele. By providing a strategically located, fully-serviced residence solution with exceptional amenities, we’re confident Citadines Paras Square Gurugram will become the preferred accommodation partner for these businesses and their mobile workforces. This aligns perfectly with our vision to contribute to the growth of the hospitality landscape of the region.”
