“Sofitel’s flagship property in Mumbai has witnessed exceptional response and strong occupancy since its official opening. The brand has succeeded in garnering a lot of interest. Many Indians are now developing a taste for luxury, in both the leisure and business segments. We are extremely positive about the growth of both segments in the Indian market,” Markland Blaiklock, Senior Vice-President and Head of the Asia Pacific Region, Sofitel Luxury Hotels, said.
The luxury brand is looking at opportunities in metros such as Delhi, Bengaluru, Chennai and resort destinations such as Goa. “We are exploring our options and are carrying out market research. No firm agreements have been finalised as yet,” he added.
Speaking about their development plans, Blaiklock stated, “Due to the economic slowdown, we are not on schedule with our development as we would have liked to have. Sofitel Luxury Hotels will launch two new hotels in India by 2016-17 – Sofitel Mulund and Sofitel So Mumbai Mulund. But the development is slower than anticipated. We are okay with it because the development of the area will take some time as well.”
Further elaborating on the minor setback, Blaiklock opined that the plan was to sign two or three agreements, following this hotel and take it to ten properties in the next two years. “However, because of the current slower economy and issues with the cost of borrowing, we have not been able to sign more agreements. We are very confident that in the years to come, things will change,” he said.
Sharing future plans Blaiklock revealed that, ,moving towards 2015, Sofitel will follow two high-priority brand objectives: to increase brand value by pursuing targeted developments in key capital cities and major tourist destinations in the region, and to expand the brand portfolio to 150 hotels globally.
