Carlson Rezidor plans India expansion

Carlson Rezidor is planning to increase its presence in state capitals and key cities in India. Currently, the company’s portfolio in the country has 140 hotels open and under various stages of development across 60 cities, including 16 state capitals. This year, 14 are slated for signing and eight are expected to open by the end of the year. 

The company’s integration of the master license agreement for the Country Inns & Suites by Carlson brand earlier this year helped align its branding and operations. The operating portfolio’s Compounded Average Growth Rate is reportedly 17 percent since 2010. 

“Our dominant position in India and steady growth in this important market demonstrates the strength of our brands and expertise,” said Thorsten Kirschke, president, Asia Pacific at Carlson Rezidor. “We remain fully committed and believe in accelerating our growth through new strategic partnerships and opportunities.” 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“Despite pressure from increased supply, we have made gains in market share, improved profit margins and raised Net Promoter Score,” Raj Rana, CEO of South Asia at Carlson Rezidor Hotel Group, said. “This sets us on pace to have 170 hotels within our India portfolio by 2020.” 

Suggested Articles

Thayer Ventures led the investment, with Tiger Global, JLL Spark and Ashton Kutcher and Guy Oseary’s Sound Ventures among the others.

Designed for hotels with less than 6,000 square feet of total meeting space, the program provides tools to better compete for new group business.

Formerly Driftwood Acquisitions & Development, Driftwood Capital has secured new capital allowing $3 billion in deployments over five years.