The Ascott Limited announces new project Oakwood Erode Resort in Tamil Nadu

India, December 21, 2023: CapitaLand Investment Limited’s wholly owned lodging business unit, The Ascott Limited (Ascott), has announced the signing of a management agreement with Sensation Hospitality Avenues LLP (hospitality arm of Sensation Infracon, a real estate and hotel developer based out of Hyderabad), regarding the development of its new hospitality property in Erode, Tamil Nadu under the Oakwood brand. With a commitment to unparalleled hospitality, Oakwood Erode Resort will mark a significant milestone in Ascott’s expansion strategy across India, offering the ultimate luxury and comfort to esteemed guests. The agreement was signed in graceful presence of Mr. Hoshang Garivala, Country General Manager, Ascott International Management India Pvt. Ltd along with Dr. Bhavishya Gupta, Founder & Managing Director, Sensation Infracon Private Limited,  Mr. Rohit Kumar Matta, Executive Director, Sensation Infracon Private Limited and Ms. Khushbu Kumari, Partner, Sensation Hospitality Avenues LLP.

Erode has several potential advantages making it an ideal investment destination for the hospitality sector.Located on the banks of Kaveri River and surrounded by the Western Ghats, Erode is the seventh-largest urban agglomeration in Tamil Nadu. Erode's connectivity through the Bangalore-Coimbatore-Kerala route and the rapid infrastructural development around the district has further propelled it as travel and business destination. The start of Oakwood Resort's development here will further elevate the fusion of contemporary amenities and regional charm, enhancing the district's rich cultural legacy and lively neighbourhood.

Estimated to be operational by December 2026, Oakwood Erode is located strategically in Periyasemure , Sathy Road in Erode city. The hotel will have a modern façade and will feature an inventory of 90 rooms, eclectic Food & Beverage offerings, Meetings and Banqueting spaces, catering to the diverse need of every guest and ensuring delightful stay for both leisure and business travellers.

“We are thrilled to unveil our latest addition in the vibrant city of Erode in collaboration with Sensation Infracon. Nestled in the heart of the city, the new property epitomizes elegance, offering guests an oasis of tranquility and sophistication. This property embodies our unwavering commitment to redefining luxury and delivering exceptional hospitality. We're excited to introduce guests to an experience that combines the region's rich culture with our signature standards of service."

Hoshang Garivala, Country General Manager, Ascott International Management India Pvt. Ltd.

“It is our absolute delight to partner with Ascott International Management India Pvt Ltd, one of the leading hospitality brands in India and globally, for the prestigious Oakwood Resort brand and bring our latest property to Erode, a city known for its cultural heritage and economic significance. We aim to elevate the hotel to high international standards and offer our guests an exceptional stay experience while they explore the scenic beauty of the state.”, said Ms. Khushbu Kumari, Partner, Sensation Hospitality Avenues LLP.

The Ascott Limited is one of the leading international lodging owner-operators with properties across Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Its portfolio of serviced apartment coliving and hotel brands includes Ascott The Residence, The Crest Collection, Somerset, Quest, Citadines, Lyf, Preference, Vertu, Harris, Citadines Connect, Fox, Yello, Fox Lite, and POP! Ascott has strengthened its position as the world's leading player and operator in hotel apartments, expanding the portfolio to over 1,60,000 units across 900 properties. In India, with the Oakwood acquisition last year, Ascott has now 6 properties in its current portfolio across the cities of Bangalore, Hyderabad, Pune and Chennai.

About The Ascott Limited

Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

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