Global hospitality major InterContinental Hotels Group (IHG) is looking to have 150 hotels in India, including those in pipeline, in next three years, a senior official has said.
The hospitality chain currently has 31 hotels operational and 46 in pipeline in India under its four brands.
"We expect to get 150 hotels in India, that is opened hotels and and hotels in pipeline in next two to three years from the 77 today," IHG Europe, Middle East, Asia and Africa CEO Kenneth Macpherson told PTI.
At present the company has four brands in India -- Intercontinental Hotels, Crowne Plaza, Holiday Inn and Holiday Inn Express, he added.
"The upcoming hotels will be under the brands we have in the country and on the strength of Holiday Inn in the Indian market, it is going to be a key part in the growth," Macpherson said.
Equally when the company has the right partners in the right locations with the right assets, it could consider introducing more brands here, he added.
"Whenever we bring a brand in India, we have to make sure we have the talent, we have the commercial enterprise that can make that brand successful," Macpherson said.
When asked about the segment that could be the main driver for growth going forward, he said: "In terms of volume of hotels, the majority of growth will come from our midscale brands -- Holiday Inn and Holiday Inn Express".
But, as the company also has fabulous brands in luxury and upscale, it will like to balance the portfolio, he added.
On being asked about the business model the company follows, Macpherson said: "We follow the asset light model. Globally we follow two key models, the franchised and the managed model".
In India, today majority of the hotels are under the managed model and the 14 hotel agreement that has been signed with SAMHI will also have managed model.
"I expect managed model is going to play a important role as we develop brands as we build scale...," Macpherson said.
About the partnership with SAMHI, he said, "Out of the 14 hotels, by end of this calender year, we will have 9 to 10 other Holiday InnExpress hotels opened in key cities in India. Rest will be opened by middle of next year".
These 14 hotels will add around 2,000 rooms in the company's portfolio. This will make IHG one of the largest midscale operaters in India, he added.
On the Indian market, Macpherson said: "We are fully committed to the Indian market. We see great potential here, strong economic growth, strong domestic travel growth and continued policies from the government to support tourism".
IHG franchises, leases, manages or owns more than 5,400 hotels and 8,10,000 guest rooms in almost 100 countries, with nearly 1,800 hotels in its development pipeline.
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