Keys Hotels, a brand under the Berggruen Hotels umbrella, is planning to expand its footprint in India. The company has already started aggressively in this direction with the three new launches, including a Keys Hotel in Vishakhapatnam, Keys Hotels Malabar Gate in Calicut and Keys Lite Om Niwas in Jaipur. The Vishakhapatnam hotel will be owned while the other two will be franchised.
The company said it also plans to open between eight and 10 new management-contract hotels in the next 12-18 months by adopting an "asset-light" strategy.
"Keys Hotels is committed to expand its footprint across smart cities and we will adopt [an] asset-light strategy to support this growth," Anshu Sarin, CEO of Berggruen Hotels, said in a statement. "Calicut, Vizag and Jaipur are very important markets for us as all three cities attracting a large volume of tourists and business travelers. Apart from these cities, we are looking to be present in major smart cities and we have aligned our growth plans accordingly."
Keys Hotels is funded by Berggruen Holdings, a New York-headquartered proprietary fund.
Source: Economic Times