Global hotel chains including Rotana, Meininger, Jumeirah and Six Senses is waiting to enter the country in the next two years, attracted by the growth prospects this market offers.
As these brands are already present in China, their current focus is on India. They are in exploratory stages to launch a mix of their portfolio, mainly in the mid-market segment as per an ET report.
Berlin-headquartered Meininger, owned by travel major Cox & Kings, is considering operating leases and management contracts in India, through tieups with unbranded hotels operating in good locations.
Navneet Bali, the company's chief executive, says India is one market no one can choose to ignore. "It is still relatively 'unhoteled' and the travel market is expected to double in the next seven-eight years from 850 million travellers. And since Indians by nature are price sensitive and value conscious, our philosophy will fit right in."
While hotel management companies are upbeat about the Indian market, finding the right partner here is proving to be a challenge for them. According to Aman Aditya Sachdev, senior vice president for South Asia and Southeast Asia at Rotana Hotel Management Corp, choosing the partner has been tough after the company decided to enter India about two years ago. "By the time we made our entry into the market, things had slowed down. That has made us work a little harder.
It is difficult to find long-term partners in India and since a lot of developers come from a residential development background, they expect quick returns," he says.
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