Louvre Hotels to add 40 new properties in India by 2019

Louvre Hotels group, a subsidiary of Shanghai-based Jin Jiang International Holdings, Tuesday said it is planning to open 40 new properties in India under its various brands by next year.

Currently, the company is operating 130 properties in the country under Golden Tulip, Sarovar and Kyriad brands.

"Going forward, we are planning to add another 40 properties to our overall portfolio by 2019, taking the total to 170 properties in India," Louvre Hotels group global chief development officer Saurabh Chawla told PTI.

He further said that the company is planning to expand its Kyriad brand through master franchise with Orange Tiger Hospitality, which manages all Citrus Hotels in India.

"Our goal is to become one of the top hospitality group by 2023. This calls for a strategic approach to countries with high growth potential such as India, where we introduce new brands that complement our existing presence," said Chawla.

Orange Tiger Hospitality chief executive officer Abhijeet Shrivastava said the firm is looking at opportunities in tier II and III cities to expand Kyriad, an upper midscale brand.

"Currently, we are operating eight Kyriad hotels mainly in the south and west. However, we are looking at opportunities across the country. We are in advanced stage of talks in the north and will very soon announce about other regions as well," he added.

The company is looking at managing 50 Kyriad hotels in India in the next five years, he said, adding that Orange Tiger Hospitality is eyeing 15 properties by 2019 and is planning to add 8-10 hotels annually thereafter.

Orange Tiger Hospitality has the master franchise for the Kyriad brand for South Asia.

"We are also looking at overseas opportunities in South Asia for Kyriad," said Shrivastava.