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20150618
StayWell Hospitality to acquire budget hotel chain in India



Archana SharmaNew Delhi
In order to expand their brand portfolio in the India market, Australia-based StayWell Hospitality Group will soon be acquiring a budget segment Indian hotel chain. Talking about the same on the sidelines of the signing ceremony of the second Park Regis in India, Rohit Vig, managing director, StayWell Hospitality, stated that the details of the acquisition will be given in the coming months.
Elaborating on the  maiden Park Regis property in Jaipur, the 10th property of the group in India, earlier known as  Holiday Inn Jaipur, Dinesh Abbi, director, Craft Palace Hotels informed that they have already invested around Rs 1 crore mainly in the technology, engineering and re-branding of the property. StayWell has signed a long-term franchise agreement with Craft Palace Hotels, the first of its kind, since Vig usually believes in following a management model. The 72-room property in Jaipur will be operational under the new name from July 2, 2015 while the first signed Park Regis Goa in North Goa, will be operational by mid November, this year.
The StayWell Hospitality group will also introduce a new boutique brand in the coming months, with the first property scheduled to open in London by end of 2016. “We will be able to bring the same to India by end of 2017. Through this brand we plan to target the avid young travellers.”
With plans of opening 100 hotels across Australia, South East Asia, India, China, Europe, Africa and the Middle East, by 2017, Vig stated that they will be adding about 20 more properties in India, leading to a total of 30 properties under the group by 2017 in the country. “The mid-market is growing rapidly than the luxury segment in India, and therefore most of our new properties will be under the ‘Leisure Inn’ brand,” he added. Presently there are 35 properties under the group.
Talking about the other properties under development in India, Vig informed Park Regis Jaipur is the first of 11 hotels StayWell is looking to open in India by early 2016. Also to be operational soon will be Leisure Inn Banjara Hills, Hyderabad by March 2016, Leisure Inn Apartments, Greater Noida by June 2016,  Leisure Inn VSR Apartments, Sector 114  and Sector 68, Gurgaon by end of 2016 and Leisure Inn Raipur by Mid 2017. At present, there are two properties under Leisure Inn brand in India. The Park Regis Brand will be expanding more in China, UK, Australia and the UAE.
Highlighting markets for future expansion in India, Vig informed that they are looking at regions like East India, Gujarat,  Kerala and Bengaluru.

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