StayWell Hospitality to open 5 hotels in India this year
NEWDELHI: Australia-based StayWell Hospitality Group plans to add five hotels in India with around 550 rooms by the end of 2016, targeting mid- and up-scale segments as part of its expansion plans in the country.
“We plan to do five hotel openings in India this year. The hotels will be under both of our brands — Park Regis and Leisure Inn,” StayWell Hospitality Group Chief Executive and MD Simon Wan told PTI.
In addition, the company is also in advanced negotiations with two owners who want to join the StayWell portfolio, he added.
“One owner has two existing hotels which he wants to be re-branded under the Park Regis portfolio. The other owner has four hotels, out of which two are existing and the remaining two are under construction. So if these agreements are finalised it will add at least four more hotels this year,” Wan said.
Three hotels of the second owner would be under Park Regis brand while one would a Leisure Inn, he added.
When asked about the investment for opening of the five hotels that the company plans to open this year, Wan said: “It would be over USD 10 million. Our investment will be only in some of them.”
The company that operates two hotel brands – Park Regis (upscale brand) and Leisure Inn (midscale brand) – said India offers a great opportunity for expansion as it is one of the major growing economies in the world.
“I continue to believe that India would be the one of the fastest growing accommodation and tourism market in the world. With a large population size, large middle class and a large youth population and better air connectivity, the potential here is very huge,” Wan said.
On the modalities of operating the upcoming properties, Wan said it would be a combination of management contract and investment by StayWell. But all the hotels will be managed by StayWell.
Founded in 2006, StayWell Hospitality Group currently manages 37 properties globally in countries such as China, Singapore, Indonesia, Australia, New Zealand, India, UAE, Saudi Arabia and UK among others.