Rohith Naidu, owner of Marks Granduer, has never been so satisfied with the occupancy rate or average room rent (ARR) of his mid-market hotel at Yashwantpura in Bengaluru.
But thanks to a deal he inked with Ferns Hotels & Resorts last year, he is converting his unbranded, standalone property into a branded one. It is now one of the 40-odd properties managed by Ferns across the country.
Naidu is not alone. Earlier this month, Ramakant Sharma, managing director at IRA Resorts, got into a similar brand franchising agreement with Wyndham Hotels & Resorts that runs the multinational hotel chain, Ramada.