Wyndham Keen to bring more overseas hotel brands to India
Wyndham Hotels & Resorts, the world's largest
hotel franchising
company, is 'as bullish as ever' on India, where all
economic indicators
are 'very positive' for the hospitality sector despite the geopolitical tumult, the chain's president for Europe, Middle East and Africa (EMEA), Dimitris Manikis, told ET. 'If you had seen some of these geopolitical challenges unfolding 15 years ago, people would have stopped traveling. We haven't seen that today,' he said.
Wyndham Hotels & Resorts on Friday announced a new '
strategic alliance
' with Cygnett Hotels & Resorts which will introduce its '
La Quinta by Wyndham
' and '
Registry Collection Hotels
' brands to country. 'We saw a bit of a drop in business here when the
India-Pakistan conflict
unfolded, but that didn't stop Indians from travelling,' Manikis said. 'Indians are travelling more — both domestically and globally — and this country of 1.4 billion will continue to travel.'
He said initial public offerings (IPOs) by hospitality companies are one of the most lucrative in India. 'Ten years ago, that wasn't the case. It shows that the stock markets and investors are very bullish about the sector,' Manikis said.
The alliance between Wyndham and Cygnett is expected to add more than 60 hotels across India, Bangladesh, Sri Lanka and Nepal over the next 10 years. Wyndham and Cygnett have signed an exclusive 10-year development agreement to introduce and grow the La Quinta by Wyndham brand across India, Nepal, Sri Lanka and Bangladesh, with plans to open over 50 hotels.
Wyndham and Cygnett will introduce Registry Collection Hotels in India through a non-exclusive 10-year development agreement for 10 hotels. Hotels will be co-branded under 'Anamore', Cygnett's newly launched, luxury 5-star brand, with first hotel expected to open in 2026.
'Strategic alliances are crucial as they can help local brands with international distribution. There are brands that would like to expand outside India. How will they do that? By affiliating with international brands.' Manikis said he is keen to explore possibilities in hostel and branded residences space in India.
'The hostels business does well in Europe and I'm keen to explore that for India,' he said. 'We launched mid-scale branded residences offering in Europe, which is doing extremely well. Both these segments have enormous potential here.'
Launching more brands here is important for outbound market, said Manikis. 'There are certain brands...that are doing well in Europe. I would like to see them here.' 'When Indians travel to Germany, Prague and Warsaw, and they stay at a Vienna House...We would like to bring our Super 8 brand to country.'
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