Citadines OMR in Chennai joins The Ascott portfolio
The Ascott has opened its second serviced residence in India – the 269-unit Citadines OMR in Chennai, the country’s third largest city and one of its fastest growing cities.
With this latest property, Ascott strengthens its position as India’s leading international serviced residence operator, with a footprint of more than 1,600 units in nine properties, both operational and under development, across the country.
Tony Soh, Ascott chief corporate officer, who also oversees its business in India, said: “India is one of the world’s top ten economies; its increasing visitor arrivals and rising affluence present immense opportunities for international brands like Ascott.
“Our strategy for India is to expand in high-growth cities where there is strong demand for international-class serviced residences from expatriates and business travellers.
“Ascott has six properties with over 900 units in various stages of development in Ahmedabad, Bangalore, Hyderabad, Gurgaon and Sri City.
“By 2021, our presence will grow to 1,600 units in nine properties.
“India is a key market for Ascott, and we are seeking to expand through strategic alliances, investment and management contracts in cities where we have presence as well as other key business cities including Mumbai, New Delhi and Pune.”
India continues to be one of the top ten most attractive destinations for foreign direct investments with a record US$46 billion being invested in the country in 2016.
Foreign tourist arrivals are also on an upturn, as India saw 8.9 million arrivals in 2016 – a growth of 11 per cent from the previous year.
The serviced residence offers guests a variety of well-appointed units such as studios, one- and two-bedroom apartments, which come with a fully-equipped kitchen and modern amenities.
It has a large infinity pool on the rooftop, a children’s pool, a gymnasium with steam and sauna facilities, Jacuzzi and residents’ lounge.
There are also two meeting rooms that can accommodate up to 100 people, a business centre, 24-hour guest services desk, launderette and a convenience store.
Guests can savour a meal at Hola, the 24-hour coffee shop or Delhi Highway, an Indian-cuisine restaurant located within the residence.