BANYAN Tree Holdings, known for its luxury hotels around the region, is looking to branch out into the mid-scale segment in India.
Speaking at Hotel Investment Forum India, executive chairman Ho Kwon Ping said: “We are planning to foray into new segments beyond ultra-luxury because when we started in that segment, nobody was there. But now we are looking to operate other segments like four-star hotels and service apartments.”
While he declined to divulge further details, Ho told TTG Asia e-Daily that the first of such a property is expected to open in the second half of 2014.
He added that India holds great potential for the mid-market segment and the country would see such openings from Banyan Tree Holdings.
“We entered India as a high-end luxury resort company. But we feel that the demographic of India just doesn’t need luxury hotels,” he said.
The company’s first project in India, Banyan Tree Kerala (TTG Asia e-Daily, July 8, 2013), has repeatedly delayed its opening due to environmental and licensing issues.
