Shangri-La Group to add 5 more hotels in India by 2024

Hong Kong-based hospitality firm Shangri-La Group Thursday said it plans to add five more hotels across India by 2024 as part of its expansion plans in the country. The company currently has 102 hotels globally, with two properties in India under its five-star luxury brand, Shangri-La Hotels.

"We plan to add five hotels across India by 2024 taking the total numbers of hotels to seven," Shangri-La Group, Middle East, India and Indian Ocean Executive Vice President John Northen told PTI. These additional hotels in India will be mainly on management contract model, he added.

"The important thing here for us is finding the right partners in India. Our two hotels in India are also under the management contract," Northen said. Globally, around 80 per cent of the hotels are owned and operated by the company itself while 20 per cent are on management contract and in some cases it is partnership, he added.

On the growth prospects of India market for the company, Northen said, "India is a very important market for us. We also have lots of Indian guests staying in our hotels around the world and it is growing all the time." About the locations of the new hotels, he said they will be in key locations of the country.

When asked if the group was also looking at acquisitions in India, Northen said, "That is a possibility. Though we are not actively pursuing any particular acquisition, we are always open to opportunities." PTI AKT RUJ ANS ANS