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New York hotelier Chatwal has big plans for India
New York-based Chatwal Hotels and Resorts is planning to invest Rs 2,000 crore (Rs 20 billion) to open 52 hotels in India in the next five years. The company has tied up with international hospitality major Wyndham Hotels for the expansion of its hotel brands Dream and Night.
Chatwal Hotels & Resorts will manage the planned number of properties and Wyndham will provide sales and marketing support.
"In the next 10 years, we want to have 100 hotels in India," said Sant Singh Chatwal, the non-resident Indian (NRI) hotelier, also chairman and CEO, Hamp-shire Hotels and Resorts.
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New York hotelier Chatwal has big plans for India
The Chatwals plan to open up to 500 properties globally in partnership with Wyndham Hotels. The company wants to set up 12 Dream and 40 Night properties in India by 2017.
As of now, Chatwal Hotels and Resorts has signed deals for 18 properties with several developers. In six of these, the company will hold equity ranging from 26 to 49 per cent.
The company already operates a Dream hotel in Kochi and plans to expand the two brands (Dream and Night) in Delhi, Jaipur, Goa, Pune, Kolkata, Bangalore, Hyderabad, Ahme-dabad, Chennai and Raipur.
Dream is a full service premium brand with fares starting from $300 and going up to $5,000. Night would be a mid-segment boutique property with a starting rate of $200 going up to $800.
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New York hotelier Chatwal has big plans for India
The company is also keen to bring its seven-star luxury brand 'The Chatwal' to India. It currently operates only one such hotel in New York.
The company is interested in opening The Chatwal in Delhi and Mumbai besides expanding it globally, including London. Chatwal Hotels & Resorts owns and manages 15 hotels in New York, Florida, London, India and Bangkok.
Wyndham group is also planning to bring its brand Howard Johnson to India within the next five years through a non-exclusive tie up with Unigroup.
