From the Wires
StayWell Hospitality Group Announces Three New Properties in India
By: PR Newswire
Nov. 21, 2012 01:10 AM
SYDNEY, Nov. 21, 2012 /PRNewswire/ -- StayWell Hospitality Group (StayWell) has today announced the latest in its global expansion plans with three additional properties in India joining its network.
The properties are currently under development in various key areas of India and will be launched under StayWell's Leisure Inn brand with opening dates expected from mid 2013.
The new properties comprise an 82 room hotel located in the city centre of Hyderabad which is proposed to open in May 2013, a 192 room serviced apartment hotel in Greater Noida scheduled to open by early 2014 and a 99 room property located in Raipur which is part of the largest retail mall in the region and is expected to open in 2014.
The expansion into India complements StayWell's growth in Southern Asia and China as well as leveraging off its established Leisure Inn and Park Regis properties in Australia, Singapore, Dubai and the UK.
Mr Simon Wan, CEO of StayWell has commented that the group's Indian expansion has been a work in progress for some time with the latest announcements being a well timed fit with StayWell's growth strategies.
"We are thrilled to further expand our portfolio into one of the biggest emerging markets in the world. Our growing reputation and brand presence in India will place us well for further property developments in the region - of which we currently have four more deals in Jaipur, Goa, Mumbai and NCR nearing finalisation. Based on our current business plan, we aim to increase our portfolio in India to a total of 25 hotels by the end of 2014 and 50 hotels by 2016," he said.
Mr Rohit Vig, Managing Director for India, has stated that the country is a high growth accommodation market, particularly for mid to upper scale hotel products.
"India has a growing annual travelling population of 650 million travellers and one of the largest growing middle class in the world, meaning opportunities for accommodation providers are very apparent. The growth of domestic leisure and business travel and increasing capacities provide unprecedented travel opportunities within India, further creating high demand, with at present, low supply. StayWell offers recognised brands in the 3 and 4 star hotel space with established systems and hotel networks; something that is lacking in the Indian market," he said.
This latest addition brings StayWell Hospitality Group's portfolio to 35 including the further upcoming announcement of properties launching in Bali, Kuala Lumpur and Shanghai.
StayWell Hospitality Group's head office is based in Sydney, Australia, with regional offices in India, Singapore, Dubai and Shanghai, as well as global sales offices in London, Munich and Hong Kong.
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