New York-based Chatwal Hotels & Resorts LLC will invest $200 million in India to open more than 50 hotels over the next five years, chairman and chief executive officer, Sant Singh Chatwal, said.
Chatwal Hotels, which has given the franchise and management rights of its 5-star deluxe brand Dream and 4-star brand Night to Wyndham Hotel Group, plans to expand them in India through the franchise model and develop them with the help of local partners as per a report in ET by Ishani Duttagupta.
"We will launch around 40 Night hotels and 12 Dream properties in India over the next five years, involving a capital expenditure of over $200 million," said Chatwal.
Chatwal, who is also chairman and CEO of Hampshire Hotels & Resorts, the management arm of Chatwal Hotels, is in India to explore the market. Chatwal and the Wyndham Group jointly run the 216-room Dream New York in midtown Manhattan, the 72-room Night Hotel also in Manhattan, a 195-room Dream Hotel in Bangkok and the 151-room Dream Cochin.
The hotelier said two properties have been planned for Jaipur, and one Night hotel each for Hyderabad and Kochi. "Lands for these properties have already been acquired and most of the approvals are in place. The properties will be launched over the next 18 months," Chatwal said, adding, "Our expertise is in the lifestyle boutique segment of hotels, which so far has not been developed in India."
Other hotels which are being planned include a Dream and a Night for Bangalore, a Dream in Goa, another Dream in Malad, and Night hotels in Raipur, Lucknow, Kanpur and Jalandhar.
Chatwal's son Vikram, who has been the brain behind the affordably chic Night and lifestyle Dream brands, hopes to add some local elements to the Indian properties.
» Read Complete News.....(You need to login first to read complete news). New User? Register for FREE!
» Back to Travel News