Lankan group to take control of 8 India hotels, resorts
Sri Lanka's leading conglomerate Aitken Spence has acquired management control of four Indian hotels and four resorts, some of them under construction, taking advantage of the surge in demand in the hospitality sector.
By PTI |
COLOMBO: Sri Lanka's leading conglomerate Aitken Spence has acquired management control of four Indian hotels and four resorts, some of them under construction, taking advantage of the surge in demand in the hospitality sector in the country.
"We are on track to control around 1,400 rooms in India within two years, making them overtake domestic (Sri Lankan) operations unless new hotels are built in the island, an official said.
"The firm has bagged eight management deals in India, some with equity participation, which would see its premium 'Heritance' brand exported to at least two locations", the company official said.
Aitken Spence had struck management deals with four hotels around Delhi, some of which are still being built with sizes ranging between 100 and 240 rooms.
"The rates in India are unbelievable say around 450 dollars for a 5-star," said Aitken Spence Hotels Management chief Malin Hapugoda, who is driving the company's expansion into India and the Middle East.
He said the Spence managed 4-star hotels in Delhi were expected to earn about 200-250 US dollars per room a day on an average throughout the year, but its other 5-star classified properties are expected to be priced higher.
In addition to the Delhi area region, Aitken Spence has signed up a resort each in Madurai, Trivandrum, Cochin and Andaman Islands.
"We are on track to control around 1,400 rooms in India within two years, making them overtake domestic (Sri Lankan) operations unless new hotels are built in the island, an official said.
"The firm has bagged eight management deals in India, some with equity participation, which would see its premium 'Heritance' brand exported to at least two locations", the company official said.
Aitken Spence had struck management deals with four hotels around Delhi, some of which are still being built with sizes ranging between 100 and 240 rooms.
"The rates in India are unbelievable say around 450 dollars for a 5-star," said Aitken Spence Hotels Management chief Malin Hapugoda, who is driving the company's expansion into India and the Middle East.
He said the Spence managed 4-star hotels in Delhi were expected to earn about 200-250 US dollars per room a day on an average throughout the year, but its other 5-star classified properties are expected to be priced higher.
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In addition to the Delhi area region, Aitken Spence has signed up a resort each in Madurai, Trivandrum, Cochin and Andaman Islands.
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