The Keys Hotels plans to add 60-70 new hotels in its budget category next fiscal to take advantage of the “exponential” growth in the segment.
The company recently introduced a new sub-brand called Keys Lite. As the name suggests, the brand will try and target the budget hotel seeker. “We are wanting to expand into the budget segment where most of the growth will come from. What is lacking in the bed and breakfast segment is that it is not standardized or consistent. Brands give certainty to an unbranded hotel/ asset owner,” said Anshu Sarin, CEO, Keys brand of hotels, adding that the company plans to add 60-70 hotels under this category in the next fiscal.
Sarin said there are two important criteria that the company looks at before deciding to take a hotel on contract. One is the asset owner’s alignment the company’s thinking in terms of quality and if the staff can be re-oriented with training.
Keys is looking to be asset light in the foreseeable future with plans to keep assets under its own management to a bare minimum. In addition to just seven hotels under its own management, the company is planning to open five more in Vizag, Chennai, Goa, Calicut and Haridwar in the near future. Currently, it also manages 20 other assets across the country on contract.