A mid-market brand of Berggruen Hotels, Keys Hotels plans to invest about Rs 345 crore in various Tier II cities of India, in the next 18 months, to expand their operations in the country. The company would be deploying the sum of money in equity and debt to fund the growth. Presently, Berggruen Hotels operates properties in Thiruvananthapuram, Lonavala and Hyderabad. The company announced its plans to build and operate many more hotels across India over the next five years.
As per Sanjay Sethi, Managing Director - Berggruen Hotels, there has been a considerable interest from hotel owners for using Keys Hotels brand for marketing and operating their hotels, on the strength of its brand positioning, operating model and team strength.
The company’s release stated that in cities such as Pune, Aurangabad and Kochi, the construction of hotels and resorts has already commenced, while plans to start the work on properties in Visakhapatnam, Jammu and Kovalam are also on cards. In the present financial year, the company plans to unfold three other Keys Hotels and resorts at Ludhiana, Mahabaleshwar and Bangalore.
