New York-based Chatwal Hotels and Resorts is aiming to be the leader in lifestyle hotel business in India in the next five years.”In the next five years, we will be the leader in lifestyle hotel business in India after setting up 400 hotels,” Chairman and CEO Hampshire Hotels and Resorts Sant Singh Chatwal told reporters here.
Demand for lifestyle hotels the world over is 10 per cent, but their growth rate is three per cent, Chatwal said, explaining that there is “huge potential” in this segment.”That is the reason why we are in India with a Rs 2,000 crore investment plan in ”Night” and ”Dream” hotels,” he said.While ”Dream” is a full service luxury hotel brand, ”Night” is a mid-segment boutique hotel in the lifestyle segment.
The hotel in Bangalore would come up on a four-acre land situated near Bangalore International Airport, he said, adding that the company is buying equity in the land belonging to a local builder.Construction work on a ”Dream” hotel in Hyderabad would start in the next 90 days and in Chennai, the company plans to build a ”Night” hotel, Chatwal said.The hotel in Chennai would come up at T Nagar and demolition work on the exisiting building has already begun, he added.
“We are also looking at building a Night hotel in Thiruvananthpuram,” he said.Besides expanding the ”Dream” and ”Night” brands here, the company is also open to launching its seven-star luxury brand ”The Chatwal” in India. At present it operates only one such hotel in New York.
News Sourced from MSN News