StayWell Hospitality Group, which currently operates 75 hotels across the world with 52 owned and remaining on management and franchise contracts, is targeting to have 250 hotels globally in the next 10 years. India, as one of the fastest growing economy, is also set to contribute to this expansion and growth plan. “This year, between September to December, we have about 5 openings globally,” Rohit Vig, Regional Managing Director – India, told T3. The Group currently operates 5 key brands : The Prince Akatoki, Park Regis, Policy, Prince and Leisure Inn.
Talking about the India market, Vig said that the Group has currently 6 operational properties in India and 6 properties are under development. “We have 3 Park Regis in India one each in Goa, Kumarakom and Jaipur. We already have over 10 Lesiure Inn all across the world and we have 3 hotels already operational in India one each in Jaipur, Gurgaon and Kochi. We have 6 more hotels under development under Leisure Inn and Park Regis both,” he said adding that the Group is also looking at brining the newly launched brand Policy to India. “The Policy brand is meant for the young and discerning traveler with a lot of concentration on interior design, social/community spaces and our key target cities in India for this brand would be Delhi, Mumbai, Bengaluru and Chennai,” he informed.
The Group recently opened the first The Prince Akatoki hotel in London and the second hotel under this brand is set to open in Guangzhou, China in January 2020. “The Prince Akatoki will come to India also in 2020 and the key target cities would be Delhi and Mumbai. This may come through management contract or by acquisition. If we find the right deal, the right location and the right product, we might go for acquisition,” Vig said.
According to him, the expansion in India will be combination of both owned and management contracts. “We also do investments in India through deposits called Key Money. So, for Park Regis, we are very happy to look at that route of expansion under management contract to grow this brand quickly. We actually have 350-room hotel that we have signed the term sheet and we are looking at signing the final contract within this year which will open doors in Q1 of 2020,” he informed.
As the mid-market and budget segment of hotel industry sees the maximum development, StayWell is also looking to expedite the development of Leisure Inn. “We are looking at opportunities in Kolkata, Bengaluru, Amritsar where we are in advance stage of negotiations with owners to be signed soon. Our focus will be on Leisure Inn. For Leisure Inn, we are looking at opportunities in Tier II cities such as Shimla, Nainital under management contracts,” he added. All 6 operational hotels in India are performing exceptionally well, Vig informed.