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Keys Hotels, the mid-market brand of New York based Berggruen Hotels has planned to expand to 100 hotels in the next five years through its business model of owned hotels, management contracts, and franchises with the investment of Rs 500 crore.
It has opened a new property in Pimpri, a industrial hub in Pune with the investment of Rs 30 crore.
It currently has a total portfolio of 30 hotels of which 12 are in operation with an inventory of over 1200 rooms, while 18 properties are in various stages of development, slated to open in due course of time.
Keys Hotels currently has its own hotels in Trivandrum, Ludhiana, Bengaluru and Pune and operates hotels for owner partners in Mahabaleshwar, Chennai, Mumbai, Aurangabad, Goa and Pune.
Commenting on this, Sanjay Sethi, MD and CEO, Keys Hotels said, "Keys Hotels, in these six years, has grown rapidly. We have opted for an extremely profitable business model which has not only helped us and partners achieve our expansion plans but has also helped us and our partners to exponentially grow the revenues on a year-on-year basis."
Keys Hotels, the flagship brand of Berggruen Hotels on Monday announced the opening of its hotel at the industrial hub of Pune city: Pimpri.
The launch marks the opening of Keys Hotels' sixth self owned property; the brand now operates 12 self owned and managed properties pan India.
Keys Hotels is an independent and leading chain of mid market hotels, upscale resorts and serviced apartments in India.
Speaking on the launch of Keys Hotels' second property in Pune, Partha Chatterjee said, "Pimpri is a major industrial zone near Pune. We are focusing for the IT, auto ancillaries and auto industries and house several giant corporates. There has always been a great demand in Pimpri for quality mid market hotels. With Keys Pimpri, we will be able to serve the corporate and business travelers visiting this end of Pune with a hotel with world class infrastructure that is upscale, yet affordable."
Keys has entered into serviced apartment segment in India by opening 70-room hotel in Whitefield, Bengaluru.
Talking about Keys Hotels expansion plans in Pune, Sethi said, "Pune is a very important city for us. We are looking at opportunities of further expansion via franchisee and management contract. We plan to establish at least two more hotels by 2014 in Pune."
