Mumbai: Mid-sized hotel firms are increasingly looking at the estimated over three million-strong unbranded hotel room market in India for their next hotel property, as domestic hospitality chains head for an aggressive expansion in the mid to economy budget segment. Many are looking for an opportunity to convert unbranded hotel properties, including local stand-alone hotels, by either acquiring them or signing management contracts with owners. At present, less than 10% of the total four million hotel room inventory in India comes from branded hotel chains. The conversion of unbranded hotels will thus accelerate in the three-four years. About 50% would be conversion from an unbranded hotel property," said Sarbendra Sarkar, chairman and managing director, Cygnett Hotels & Resorts.

Source: Mint April 20, 2019 00:45 UTC