With the economic down cycle continuing in the US and Europe, many Southeast Asian luxury hotels are turning their attention to India’s growing number of wealthy families.
In October, Thailand-based Six Senses Resorts and Spas, which has 10 properties in Europe and Asia, opened a spa in a Jaypee group hotel in Greater Noida.
“India is an emerging market in its appetite for luxury experience,” said Samir Patel, managing director of Six Senses Spas. The luxury hotel operator has two more projects coming up in Pune and one in Mumbai. “We will also bring our second brand, Evason, in India after Six Senses,” Patel said.
These luxury hoteliers will also be eyeing the increasing number of upper middle class households for luxury services such as spas as per a Mint report
The number of wealthy households in India is estimated to have grown 30% to around 81,000 in 2011-12, and is expected to triple to around 286,000 over the next five years as per reports.
Their net worth is estimated to surge from Rs.65 trillion in 2011-12 to Rs.318 trillion by 2016-17. A wealthy household has a minimum net worth of Rs.25 crore.
Banyan Tree Hotels and Resorts, which manages and develops premium resorts, hotels and spas, and has its flagship property in Thailand, plans to open a resort with 59 villas with private pools in Kerala next year, followed by a property in Goa.
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