skift take
— Josh Corder
India has the potential to become a hotbed for lifestyle hotels.
This is the view of Sharan Pasricha, founder and co-CEO of Anysmore, a prominent figure in the hospitality sector.
Most of India's largest hotel companies are traditional luxury brands. For example, Taj was founded in 1902, Oberoi was founded in his 1934, and Leela was founded in 1986. However, India's growing middle class, developing infrastructure and high levels of entrepreneurship could give rise to a new breed of hotel companies.
“I see this location as a great opportunity,” Pasricha said Wednesday at the 2024 Skift India Summit. “We have the most exciting middle class here. There is an opportunity to launch brands within India. I wouldn't be surprised if the next wave of brands comes from India.” Sho.”
Ennismore is a joint venture between Pasricha and Accor, with 150 hotels open and another 160 under construction. Ennismore Group started with the Hoxton Hotel in London's trendy Shoreditch district and has added independent brands such as Mama Shelter, 25 Hour and SLS to its portfolio.
Ennismore in India?
By focusing on cool restaurants and appealing to locals, Ennismore has a strong foothold in markets across Europe, Asia, the Americas and the Middle East. But there are no hotels in India.
Pasricha said the situation could change once new players are announced as early as this year.
“I want to build hotels in Mumbai, Delhi and Goa. That would be really great,” he said. “In my opinion, every lifestyle hotel needs true localization. We would love to have the opportunity to use our brand in the Indian context. We will probably do a few deals in India this year, maybe one or two. is planned.”
When Ennismore expands into India, it will do so with a focus on serving the local population, while staying true to the company's principles of great design and first-class food and beverages.
“Some companies tried to hire tattooed bartenders and call it a lifestyle hotel,” Pasricha said. “Anysmore is founder-led and built by our founders. Mama Shelter is one such brand. Hoxton is another. Our stable of brands is truly rooted in purpose.”
“You need well-designed products, affordable prices, and a team that shares your ethos,” he added.
Ennismore remains open to further dialogue with other entrepreneurs in the space, as much of its appeal lies in the umbrella of founders it works with.
Pasricha said: “You can't build a global business on your own. You need to collaborate with founders, entrepreneurs, and other businesses.”
Year-to-date performance of the Lodging Sector Stock Index
What am I looking at? Performance of hotel and short-term rental sector stocks within the ST200. The index includes publicly traded companies in global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.
Skift Travel 200 (ST200) It combines the financial performance of nearly 200 travel companies, worth more than $1 trillion, into a single number. See more performance in the hotel and short-term rental finance sector.
Read the complete methodology behind Skift Travel 200.
Photo Credit: Ennismore Founder Sharan Pasricha speaks at Skift India Summit on March 20, 2024. Source: Skift
