We have not signed new pacts due to slowdown: Markland Blaiklock

Interview with Senior V-P & Head, Asia-Pacific region, Sofitel Luxury Hotels

European hotel chain Accor's luxury brand Sofitel debuted last year in Mumbai. With two more hotels in the pipeline, the luxury brand is looking for more partners and properties to expand. In conversation with Ruchika Chitravanshi, Markland Blaiklock, senior vice-president and head of the Asia Pacific region for Sofitel Luxury Hotels says he is expecting a slow but steady growth in Sofitel's India portfolio. Edited excerpts:

Having opened one Sofitel hotel in Mumbai, how has the experience been so far and how is the pipeline looking?

From the point of view of everything except our hotel rooms, we hoped for a better response. Currently, we are in the Bandra Kurla Centre (BKC), where demand is outpacing the new supply.

We are happy with our first year. But, we are not as happy with our development as we would have liked to have.

The brand has succeeded in garnering a lot of interest. Two more hotels are under development in Mumbai. Development is slower than anticipated. We are okay with it because the development of the area will take some time as well. We are interested in Delhi, Bangalore and resort destinations like Goa. No firm agreements at this point.

What was the ideal plan?

The ideal plan was to sign two or three agreements, following this hotel and take it to ten properties in the next two years.

Because of the current slower economy and issues with the cost of borrowing, we have not been able to sign more agreements. This country has a cycle just like every country. And we are on the soft part of the cycle. We are very confident that in the years to come, that will change. Availability of hotel rooms as compared to the population is very low here as compared to the other markets.

How do you compare India with the other markets in Asia-Pacific (APAC)?

The area of most dynamic growth is China as it represents 50 per cent of the APAC network and 20 per cent of our global network.

We have a strong presence in Thailand and Vietnam. In this region, India and China are slower than the other parts of this region. In India, Delhi is our primary target. We have a strong and growing Accor presence in Delhi. We are chasing down any opportunities there.