French hospitality chain Louvre Hotels Group has recently announced its plans to set up 50 hotels in India by the end of the 2015. VJ Singh, Managing Director South Asia, Louvre Hotels Group said, “Right now we are operating nine hotels in India and looking at adding ten more by the end of this year so at the end of 2012 we will have 20 hotels operating in the country. We plan to add 10 to 12 hotels each year from there on. So our target is 50 hotels in 2015. We have already invested USD 50 million and in the next 12 months we will invest around USD 200 million.”
The plan to establish these hotels will mostly be through management contract. The company will provide the brand and the expertise while the other partners of the company will own them.
The group currently has a portfolio of seven brands, ranging from one to five stars. Besides domestic expansion, the group is also looking forward to setting up hotels in Nepal, Bangladesh and Sri Lanka all through management contract by the end of 2012, as per a report in indiamart.com.
The plan to establish these hotels will mostly be through management contract. The company will provide the brand and the expertise while the other partners of the company will own them.
The group currently has a portfolio of seven brands, ranging from one to five stars. Besides domestic expansion, the group is also looking forward to setting up hotels in Nepal, Bangladesh and Sri Lanka all through management contract by the end of 2012, as per a report in indiamart.com.
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