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Friday, 04 December, 2020, 16 : 30 PM [IST]

Spree Hospitality on expansion drive; to launch 8 hotels under the brand by March 2021

Will unveil mid-market brand ZiP by Spree Hotels
Spree Hospitality, headed by Keshav Baljee, plans to open 8 new properties by March 2021.While elaborating about the expansion, Baljee informed that the brand is planning to introduce Spree Boutique hotels in Haridwar, Bengaluru, and Dehradun. 

The brand is also on the verge of launching its mid-market product, ZiP by Spree Hotels brand in Manali, Gurugram, Bengaluru and Goa. “We will be launching 8 hotels and total 322 keys in these cities before March 2021. Our pipeline beyond March 2021 is also healthy, although we will be announcing those launch dates post the COVID lockdown, as we get closer to operations in each property. Most of these hotels had been planned prior to the COVID lockdown, with a combined investment of over INR 150 crores for all these properties. It is our responsibility to ensure good returns on these investments.” 

Mentioning that there is a strong uptick in domestic tourism, especially destinations located within short distances of key metros, Baljee said, “We are opening hotels in locations like Haridwar, Manali, Dehradun, and Goa which are expected to be key beneficiaries of the resumption in domestic tourism.” 

Explaining about the business model of Spree Hotels, he said, “We primarily operate our portfolio through management contracts, and our investments are made by our hotel partners. We have invested in growing our regional sales teams, our corporate team, and in technology.” 

The hospitality industry in the country is going through a very tough time. Most hoteliers believe that strong supportive measures from the government are extremely critical to revive the industry at this juncture. Sharing his thoughts, Baljee commented, “The hospitality and allied tourism sector employ nearly 6-8 crore employees and contribute nearly 10% to our country's GDP. We are hopeful that both state and Central governments will come forward and rescue this sector that has been badly hit by COVID.  So far, we have not received much, and this is something, that we hope the governments will remedy at the earliest. It is the right thing to do, it is in the interest of the country, and most importantly the vast majority of our employees are in the lower economic brackets with very limited social safety nets. Our hotel owner partners also need relief in terms of utility payments, license payments, and the like. We hope for a large, targeted stimulus package to get employees back on their feet, and help hotel owners to safeguard their investments. Without governmental relief, an entire generation of employees will fall back into poverty.”

 
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