Apeejay Hotels enters mid-market segment
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Apeejay Surrendra Park Hotels has announced its foray into the mid-market segment with the launch of ‘Zone by The Park’.
The group is eyeing approximately 20-25 properties in the next four to five years under this brand. “In the recent years the country witnessed a steady growth in mid-segment travellers, who are moving up fast on life’s ladder. Though different from The Park, we wanted to create a brand that would channel its inimitable spirit. A new brand with a new vision for a global citizen,” Priya Paul, Chairperson of Apeejay Surrendra Park Hotels told the PTI on the sidelines of ninth annual Hotel Investment Conference South Asia (HICSA) in Mumbai.
Four hotels have already been signed under the brand and the first two hotels will be operational by the year end. “The company is already developing four properties with around 300 rooms under Zone by The Park, of which two hotels, one in Raipur and another in Coimbatore, will be operational by the end of this year,” Paul said. The other two subsequent properties are being developed in Dehradun and Delhi.
Zone by The Park will primarily be managed properties with an average room tariff ranging between INR3,500 to INR5,000 per night depending on the city and location. “We are hoping to develop 20-25 properties across the country in the next 4-5 years under this mid market brand. These hotels will be of around 100 rooms, especially in the tier II and III cities. We have decided to go for the contract management model for this brand and will focus on design, food and beverage,” Paul stated.