Through an exclusive master license agreement with hospitality vertical and subsidiary company of Miraya Investment Holdings Limited (MIHL), US-based Vantage Hospitality Group is all set to introduce Value Inns and Hotels worldwide brands in India.
The merger was announced in Hotel Investment Conference South Asia 2015, held in New Delhi recently. The Value Inns & Value Hotels India will primarily be business hotels offering food and beverage and banquet facilities for weddings and events. They will be positioned as two to four star quality hotels, depending on location, size of the hotel and product for 30– 65 rooms.
“We feel that there is a great demand for hotels from the middlle class in the tier-II and tier-III markets in India and we look forward to bring our Value brands to those areas of the country, “said Roger Bloss, Founder President and CEO, Vantage Hospitality
Vantage Hospitality Group owns over 1,200 properties across United States of America, Canada, South Korea, Indonesia and Mexico and is the only hotel company to be ranked among the Inc. 500/5000 List of America’s Fastest-Growing Private Companies for eight consecutive years.
Talking about his ambitious India plans, Sudhir Sinha, Managing Director & CEO, Value Inns & Hotels India said, “Through Value Inns & Hotels India, we will raise the bar of lodging in mid-market segment in India. The brand offers hotel owners the most affordable alternative to a traditional hotel franchise in the budget through lower midscale segments and we are happy to be bring this benefit to Hotel owners in India.
“Our plan is to make Value Inns & Hotels India a 100 hotel chain within the next 5-7 years,” he added.
Considering the tie up as an encouragement for Miraya Hotel Management Pvt. Ltd, Rohit Yadav, Founder and Chairman, MIHL said, “MIHL is planning to invest approximately Rs. 700 crores in acquiring assets in India to rebrand them under the Value Inn Brands.”