Dubai's United World Infrastructure (UWI), a global infrastructure investment and development company, is launching a mid-market hotel start-up in India, in partnership with Arjun Baljee, of Peppermint hospitality and Royal Orchid, said a report
The joint venture, India Hospitality Investment Company, will lease existing mid-market hotels from independent property owners and invest in improving aesthetics and facilities to create a standardised hospitality experience for its guests, the Economic Times reported.
“The initiative will not only provide hotel owners with an ideal opportunity to manage operational risks but additionally, it contributes to economic freedom in the form of assured and stable monthly lease income,” said Imran Markar, principal at UWI. Markar leads strategic relationships with institutional investors, government linked agencies and financial institutions for UWI.
The new start-up will be launched shortly with a rapid roll out across the country, with a minimum of 10 hotels and resorts to be opened in the first six months of brand launch.
With the signups for leased hotels in progress, Baljee said: “We are aggregating hotels that are 'like-minded' to ensure that our guests have an unparalleled experience at a value price. With our deep global relationships, we have the ability to tap into fundamentally strong demand to enable the brands success for our hotel partners."
The company is looking at leasing existing standalone properties with anywhere between 40 and 100 rooms and will be priced in the range of Rs3,000-6,000 ($45-90.2). - TradeArabia News Service
You Might Like