Hilton Hotels Corporation is franchising out its Hampton by HiltonT business hotel brand to Marigold Hospitality Limited in India, which plans to open 16 properties - around 2,000 rooms - under the name.
Marigold”s investment is estimated at $200m-$250m (”100m-”125m). It will acquire and develop the sites with the help of Hilton, securing them in the first half of 2008 with the aim of starting construction this year. Palm Hospitality will manage the hotels.
”We expect it to be a hit among travellers in India who want quality at competitive prices,” said Marigold Hospitality and Palm Hospitality chairman Ash Taneja.
”The business market poses a great business opportunity in India.”
The first of the 16 hotels is expected to open in the next two years.
”This is a great opportunity for us to get a foothold in the business hotel sector in India as one of the first international hotel companies to offer corporate travellers top quality focused service accommodation on the road,” said Hilton Hotels president Koos Klein.
”Through multi-unit deals like this, we are well positioned to cater to the growing demand for focused service hotels and tap the powerful economic growth and demographics in India. It is our goal to become a nationwide hotel company in India, across the market segments.”
After carrying out extensive consumer research in India, the group says its Hampton by HiltonT properties are built with amenities to meet the needs of its business and leisure travellers.