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Monday, 14 September, 2009, 14 : 00 PM [IST]

Tune to set up 20 hotels across India

Tune, The Tune Hotels Group of companies has entered into a strategic partnership with Apodis Hospitality Group to invest in, develop and operate 20 Tune properties across India by 2012. Apodis Hospitality Group, affiliated with real estate and infrastructure investment firm, Trikona Capital, operates, develops and invests in hospitality assets across three key segments: leisure, business, and budget.

Under the terms of the strategic partnership, five Tune properties are targeted to be operational in India by December 2010 with staggered roll-out of the subsequent 15 hotels to be completed by the end of 2012. While sites are yet to be finalised, initial hotels are likely to be located in and around Amritsar, Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi, Goa, Hyderabad, Indore, Jodhpur, Kochi, Mumbai, Pune, Pipavav, Raipur, Thiruvananthapuram and Tiruchirapally.

Mark Lankester, Group CEO, Tune, explained, “Demand for hotel rooms is soaring in India as its economy blossoms. Foreigners are flooding in for both business and leisure and domestically, the rise of low-fare airlines is also bringing air travel within reach of more Indians.”

Despite the challenging economic environment, India forms only a part of Tune’s aggressive regional expansion plans. Lankester said, “In total, excluding our own seven existing hotels and our own significant hotel development plans over the same period, by 2013, we will have an additional 64 hotels under the Tune banner. In addition to our portfolio in Malaysia, the countries we will cover will span Indonesia, India, Thailand, Bangladesh, Philippines and further afar.”
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