Premier Inn plans to manage hotels in India1 min read . Updated: 16 Jul 2012, 03:39 PM IST
Premier Inn plans to manage hotels in India
New Delhi: Budget hotel chain Premier Inn, a wholly-owned subsidiary of Whitbread Plc., which also owns the Costa coffee chain brand, plans to enter into management contracts to operate properties in India after investing ₹ 300 crore in the country in five hotels.
It has two hotels that are operational and three under construction, which are likely to be ready in the next two years.
“Our strategy has been asset-heavy so far. We have invested ₹ 300 crore in five properties. Now we are moving into an asset-right strategy, where we will be managing properties," said Aly Shariff, managing director at Premier Inn in India. “85-90% of our developmental growth focus is there now. Going forward, we would close in between 8-10 deals a year."
The company expects to enter 7-8 deals in the current year. Meanwhile, it said, it will continue to invest in hotel properties.