Preferred Hotels plans portfolio expansion in India

New Delhi: Chicago-based hotel operator Preferred Hotels Group Inc., which rebranded the company earlier this month globally to Preferred Hotels & Resorts and in India on Thursday, plans to expand its portfolio of hotels in India by half by 2018.

“In three years’ time we are hoping to take the number of independent hotels in our group to 45 from 30 at present, which would mean 50% growth,” Saurabh Rai, area managing director of South Asia and the Middle East for Preferred Hotels & Resorts, said in an interview. “We are going for the organic route under which we will grow as our business partners build or acquire new properties.”

The company, which comprises more than 650 independent luxury hotels, resorts, residences, and hotel groups across 85 countries and entered India in 2002 with one property, partners hotel companies to provide them global reach for marketing, sales and distribution.

“The business has been sluggish during last 4 to 5 years, and we have indeed seen a de-growth in our business in India,” he said. “But now with the economy recovering and India seeing a stable political regime, we hope that we would be able to grow in India at much higher pace.”

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