Louvre Hotels on Monday announced the opening of its ‘Royal Tulip’ in Navi Mumbai, and aims to double its portfolio to 50 within three years.
“At present we have 1,000 rooms spread across our brands – Tulip Inn and Golden Tulip, and another 97 rooms with the opening of Royal Tulip in Navi Mumbai,” Louvre Hotel Group Managing Director of South Asia, Vimal J Singh, told The Economic Times.
“We are targeting eight to 10 properties every year under these three brands and are aiming about 50 hotels by 2015,” he said.
The Royal Tulip in Navi is expected to achieve 50% occupancy in the first year, rising to 70% by year four. “We are confident that the upcoming international airport at Navi Mumbai, which is 2km from here, would have global visibility and thus we see tremendous potential,” said Singh.
“We are very bullish on the Indian market and are aggressively looking at developing Louvre branded hotels in India. We are a long-term player and looking at long-term associations in the Indian market.”