Bullish on India, Chatwal plans 100 hotels in 10 years (Lead)January 9th, 2012 - 9:25 pm ICT by IANS
New Delhi, Jan 9 (IANS) Hampshire Hotels and Resorts promoted by Indian American entrepreneur Sant Chatwal plans to launch 52 hotels in India in the next five years under the Dream and Night luxury brands focussing on the lifestyle segment and expanding the chain to 100 in a decade.
About 40 Night Hotels, which is a luxurious lifestyle brand, and 12 Dream Hotels, a mid-segment boutique hotel targeting the business traveller, would come up in places like Goa, Chennai, Delhi, Mumbai, Bangalore, Jaipur, Udaipur, Hyderabad and Kolkata.
The hotels, brainchild of Chatwal’s son Vikram, would be managed by one of the world’s largest chain of hotels, the Wyndham Group.
“We would like to give more options for the 70 million Indians that travel within the country. Our aim is to be the largest boutique hotel company in the world in the next 10 years,” said Vikram Chatwal.
Sant Chatwal said his company would invest Rs.2,000 crore in these ventures — many of which would be operated on a franchisee basis.
“In the next five years, we have a definite plan to operate 52 hotels in India and invest Rs 2,000 crore for developing infrastructure. In the next 10 years, we hope to do 100 hotels here,” said Sant Chatwal, chairman and chief executive of Hampshire Hotels and Resorts.
Hampshire and Wyndham have ambitious plans for the luxury boutique chain and aim to launch 500 hotels around the globe in the next 10 years.
“We have already signed 18 deals for both Dream and Night hotels. Most of them would be on the franchising and management model,” he added.
Of the 18 hotels for which deals have been signed, 12 will be run on franchisee basis, while Hampshire has picked up 26 percent equity in 4 properties and 49 percent equity in the remaining two.
Chatwal, one of the most known faces of the Indian diaspora in the US, said he had already invested Rs.1,000 crore in various properties, including building a Dream hotel in Cochin, which has been in operation since 2008.
“For me, India has always been the ultimate hospitality destination. But in comparison to China, which has one million rooms we have only about 120,000,” said Chatwal.
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- Chatwal ties with Wyndham for major hotel expansion in India - Mar 24, 2011
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- Swiss International Hotels announce foray into India - Apr 03, 2012
- NHRC awaits report on Chatwal from Kerala government - Feb 08, 2010
- Park Hyatt hotel opens in Hyderabad - Apr 27, 2012
- International hotel chains make a beeline to India - Feb 12, 2012
- L Capital's $640 million for investments in India, China - Mar 30, 2011
- Himatsingka to foray into Indian home fabric market - Nov 09, 2010
- Malabar Gold group to diversify into retailing of lifestyle products - Mar 30, 2012
- Lalit Suri hotel group firms up $500 mn expansion plan - May 04, 2010
- Singapore-based luxury hotel chain comes to India - Jan 29, 2010
- Zuri to offload 20 percent stake to private equity players - Sep 21, 2010
Tags: ambitious plans, american entrepreneur, boutique hotel, building a dream, business traveller, crore, definite plan, dream hotel, franchisee, hampshire hotels and resorts, hotel company, indian diaspora, lifestyle brand, luxurious lifestyle, luxury brands, management model, next five years, night luxury, sant chatwal, vikram