International Vantage Brands has signed master license agreement with India based Miraya Hotel Management, has long-term plans to unleash potent wellness space.
Globally renowned eighth largest hotel chain, a part of International Vantage Group, Value Inn Worldwide & Value Hotel Worldwide has entered in Indian hospitality market through master license agreement with Miraya Hotel Management Pvt Ltd.
The new partners in hospitality business have long-term plans to tap wellness market, which is slated to touch Rs1 trillion by 2015 with a CAGR of 15-17 per cent.
In an exclusive conversation with Wellness India, Sudhir Sinha, Managing Director & CEO, Value Inns & Hotels India unveiled, “Wellness industry fortunately/unfortunately is a connotation of rich. It’s found in all luxury hotels or very upscale hotels. We would like to break that aspect into our hotels, specially in the resorts locations, whereby they (consumers) get a treatment done at a reasonable cost. So that is a very good income stream for the hotels and also for the people who come for the treatment. They do not feel pinch in the pocket."
He further added, "Being a Value Hotel, we’ll be giving value services at a very good cost. Wellness is a very good line of business that we would also be looking at, however, that depends on the location of the resorts, what kind of people are travelling there, seasonal factors etc. But, we are very open to that business idea.”
Primarily, the Value Inns & Value Hotels India will be offering food and beverages along with banquet facilities for weddings and business conferences.
The award-winning Value Inn brand has set industry records for growth that claims to offer members the lowest price in the industry, reasonable agreements, flexible services & amenities, sensible PIPs, and A Voice and A Vote in the brand's direction while providing the most comprehensive resources in the lodging industry.
The brand has plans to tap tier II and III market in a bid to capture untouched potential and huge growth opportunities of the same.
“We feel that there is great demand for hotels for the middle class in second and third-tier markets, and we look forward to bringing our Value brands to those areas of the country. We plan to grow via new construction and re-branding of existing hotels, and are ecstatic that Miraya plans to emulate Vantage’s innovative brand affiliation model that is designed for independent operators and allows them the freedom to operate in the manner they feel is best for their market place,” shared Roger Bloss, Founder, President and CEO of Vantage Hospitality.
Significantly, Vantage has given Miraya the exclusive right to develop its international brands in India.
Commenting on the tie-up, Rohit Yadav Founder&Chairman of Miraya Investment Holdings Ltd (MIHL) said, “A tie-up with the fastest growing hotel chain is very encouraging for us. It was heartening to know that 76 per cent of the Vantage members are of Indian descent, which proves that the Chain is preferred by Indians. For this, MIHL will look at investing approximately Rs700 crores in acquiring assets in India to rebrand them under the Value Inn Brands”.
“We, through Value Inns & Hotels India, 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 bringing 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” added Sinha.
Value Inns & Value Hotels is the World’s most competitive and fastest growing Hotel Chain with over 1,200 properties across United States of America, Canada, South Korea, Indonesia and Mexico.