Hotel brands to introduce mid scale markets
The India Hotel Company limited(IHCL) which is a Tata Group company that has operated the Taj hotels, planned to introduce a mid scaled brand to cater to the growing number of travellers who have preferred the comfort of a category falling between the economy and upscale. The mid market brand will be able to gain mid level travellers and cater to a wider crowd.
There has been a missing link in between the Gateway and Ginger brands which has been said by Prabhat Verma, chief operating officer of Gateway Hotels. Gateway is an upscale brand that has been owned by IHCL. The hotel chain is working on the entry into the midmarket segment.
According to the report of the hotel consultancy HVS and mid market brands make up around 34.4 percent of the proposed branded hotel supply in between 2012-2013 and 2017-2018 while the luxury brands constituted only of 17.1 percent. Analysts said by adding a midscale brand to the portfolio, IHCL will be able to increase the offerings and increase the market share. The Mid market has been made up for the large chunk of demand from the business travellers.
Source: The Indian Express
