Vantage Hospitality announced its foray into India through a deal with Miraya Hotel Management that plans to invest around Rs 700 crore to acquire assets and re-brand them under the American partner's brands.
Targeting the mid-market segment, Vantage hospitality group is bringing its two brands -- Value Inns Worldwide and Value Hotels Worldwide -- to India, with the goal of becoming a 100-hotel chain in the next five-to-seven years.
"We feel there is a good demand for the middle-class in second and third tier markets and we look forward to bringing our Value brands to those areas of the country," Vantage Hospitality founder president and CEO Roger Bloss said. "The plan is to have at least 10 to 12 hotels under our brand by the end of this year."
Capital-based Miraya Hotel Management is the exclusive master licensee of Vantage Hospitality's brands in India. Vantage hospitality has over 1,200 properties across the U.S.