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StayWell Hospitality to acquire budget hotel chain in India

In order to expand their brand portfolio in the India market, Australia-based StayWell Hospitality Group will soon be acquiring a budget segment Indian hotel chain. Talking about the same on the sidelines of the signing ceremony of the second Park Regis in India, Rohit Vig, managing director, StayWell Hospitality, stated that the details of the acquisition will be given in the coming months.

 Elaborating on the maiden Park Regis property in Jaipur, the 10th property of the group in India, earlier known as Holiday Inn Jaipur, Dinesh Abbi, director, Craft Palace Hotels informed that they have already invested around Rs 1 crore mainly in the technology, engineering and re-branding of the property. StayWell has signed a long-term franchise agreement with Craft Palace Hotels, the first of its kind, since Vig usually believes in following a management model. The 72-room property in Jaipur will be operational under the new name from July 2, 2015 while the first signed Park Regis Goa in North Goa, will be operational by mid November, this year. The StayWell Hospitality group will also introduce a new boutique brand in the coming months, with the first property scheduled to open in London by end of 2016. “We will be able to bring the same to India by end of 2017. Through this brand we plan to target the avid young travellers.”