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Thursday, 24 October, 2019, 17 : 15 PM [IST]

Signum Hotels & Resorts eyes major expansion in India through managed and leased hotels

Hopes to double the inventory in the next two years to reach 1,000 room strong brand
Signum Hotels & Resorts, a relatively new independent hotel company and brand set up by a bunch of experienced hoteliers, which currently have hotel properties both in India and the UK, is eyeing major expansion of its portfolio in India through both managed and leased hotel assets.  Set up less than two years ago, the hotel company currently has 8 hotels in India with a total operational inventory of nearly 570 rooms and is targeting to grow its inventory to at least 1,000 rooms in the next two years’ time.  Besides India, Signum Hotels also manages 14 Serviced Apartments in London.

Speaking to Hospitality Biz, Mehul Sharma, Founder & CEO of the hotel company said that they have already signed four more properties in India and all of them will get operational before March next year.  “By March 2020 we will have 14 hotels. We are signing at least one hotel a month and our strike rate with owners is as high as 95%,” he said.  The properties in the pipeline include 138-key Serviced Apartment in Golf Course Road Gurgaon due for opening in January next year.

 Sharing details of the brand and the brand architecture, Sharma said that Signum denotes “creating significance” for both owners as well for the destination.  “We try to create significant value to the owners, to the asset as well as the local community around it. We try to offer unique experiences pertaining to the place for our guests.  These experiences are strongly backed by very strong brand structure, brand architecture, and SOPs,” he informed.  

When asked about the competition and penchant of owners to align with big brands, Sharma said that although Signum is a new brand, the people behind it are thorough hospitality professionals with an average of two decades of industry experience having held senior positions in hotel companies like Taj Group, ITC, Radisson, etc.  Because of this, Signum has been able to pick up the best practices of all the leading brands and customise it to create a better customer experience.  “The mindset is changing.   People want their assets to be run by real professionals so that the value of their assets appreciates,” Sharma stated. 

Sharma said that the company has been able to create strong software and brand manuals.  “We have invested heavily into IT and people,” he informed.  They are in the process of launching a Loyalty programme soon.  

Signum Hotels would be focusing to consolidate in the 3-Star and above space in segments like Villas, Apartments, Palaces, Hotels, and Resorts.  The current location of Signum Hotels includes Delhi NCR (3 Hotels), Jaipur (2 Hotels), one each in Munnar, Kasauli, Dhaulagiri, and Shimla. 

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