Australia-based StayWell Hospitality Group is embarking on a mission to expand in India. They plan to operate around 50 hotels within five years under this brand name. The company that operates two hotel brands – Park Regis and Leisure Inn – admitted that India offers a great opportunity for expansion as it is one of the major growing economies in the world along with China.
“We will be opening up to 50 hotels in five years. We will invest nearly USD 50 million for this,” Simon Wan, Group Chief Executive and Managing Director, StayWell Hospitality told PTI.
The hotels will be a mix of three business models that the company follows: one third will be under management contracts, another third will be under the lease agreements and a third will be where the company will provide financial support, Wan added.