Luxury hotel chain Raffles plans business expansion in India

Luxury hotel chain Raffles is planning major business expansion across India through mixed-use properties and ephemeral spaces, in addition to resorts and retreat-like hotels. Stephen Alden, Chief Executive Officer of Raffles & Orient Express, Accor Group, told the media that India is an important market for both Raffles and Accor concerning the potential of long-term growth. They would like resort and retreat-like properties in India. Additionally, mixed-use properties between residential, suites, workspaces, health and wellbeing. They have a team looking at ephemeral spaces, multidisciplinary galleries. Raffles has 16 hotels worldwide. In India, it started a luxury hotel in Udaipur in August. Raffles is acknowledged for its different ideas across the world. It has managed to transform palaces and old war rooms into residences and hotel suites. Its umbrella of spaces covers hybrid hotels, residencies, suites, resorts, mixed-use hotels and ephemeral spaces. Every hotel is different and has been converted into a landmark for the said location. For example, in August 2021, Raffles started its first palatial resort on a 21-acre private island in the heart of Udai Sagar lake in Udaipur. It is also ready to begin its second palace conversion in Jaipur shortly. The CEO said that they have achieved a 10-15% higher occupancy than anticipated. They are confident that with the start of the festival period, bookings would be robust. Another example of a unique transformation is its recent project with the Hinduja Group – the Old War Office (OWO) building in London has been converted into a multi-hundred-room hotel and residences. When asked if the firm sees a potential to transform such properties in India, the CEO said that Raffles would like to explore different types of properties than being stuck with one or two kinds of properties. Image Source Also read: BMC to waive off around Rs 41 cr property tax for hotels