The Hindu : Business : Berggruen to launch chain of budget hotels

Online edition of India's National Newspaper
Tuesday, Jan 23, 2007
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Business

Business

Berggruen to launch chain of budget hotels

Staff Correspondent

Looking at marketing tie-ups with airlines, travel agents and retail outlets

PHOTO: SHASHI ASHIWAL

KEYS CHAIN: Nicolas Berggruen (right), Founder, Berggruen Holdings, with Sanjay Sethi, Founding Director on Board, Berggruen Hotels, addressing a press conference in Mumbai on Monday.

MUMBAI: Berggruen Hotels, a new hotel venture backed by Berggruen Holdings Inc., will launch its new brand of boutique hotels, `Keys,' in India. Set up with an equity capital of $100 million, Berggruen Hotels will build a minimum of 38 hotels in the next five years. While 24 sites are under negotiation, the launch of the first hotel is scheduled for June 2008.

Addressing a media conference here on Monday, Partha Chatterjee, Director on Board, and Chief Marketing Officer, Berggruen Hotels, said, "Keys will be a chain of category defining boutique budget hotels in India, providing a stylish, cheerful and cutting edge experience to our customers. Keys will be launched in India and the plan is to spread the brand globally in the near future.''

Berggruen Hotels will operate 38 hotels (4,200 rooms) evenly distributed across tier 1, 2 and 3 locations pan-India, each with 100 to 170 rooms in the next five years. Keys rooms will all be double rooms with charges depending on the occupancy and the initial pricing will be between Rs. 1,400 and Rs. 2,200 across the country.

Sanjay Sethi, CEO, Berggruen Hotels, said "we have acquired property already in Bangalore, Kolkata, Ludhiana and Thiruvananthapuram and will have 10-12 properties under construction soon. We will be looking at marketing tie-ups with airlines, travel agents and even retail outlets.''

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