It appears that Indian firms are waking up to the value of small-scale and boutique hotels. Svenska Design Hotels is a company that operates a chain of such hotels. The luxury hospitality group has successfully raised Rs 30 crore in mezzanine capital recently, in a move that indicates India’s acceptance of luxury boutique hotels. The funding was provided by DMI Finance, a non-bank finance group that operates in NCR, Mumbai and Bangalore.
Svenska Design Hotels currently runs properties in Mumbai and Bangalore. However, the luxury hospitality has bigger plans for the luxury boutique hotel. The firm hopes to expand its boutique hotel chain to four more Indian cities in the near future. The company has zeroed in on Delhi, Kolkata, Kakinada and Bhilwara as its next hotel locations. Hotels developed by the Svenska group are essential small format hotels with anywhere between 30 and 100 rooms. These upscale hotels are stylish, trendy and feature European design sensibilities.
But Svenska’s India operations are not limited to luxury boutique hotels. The firm is also responsible for the day-to-day operations and franchise outlets of a number of food and beverage concept outlets. These include Miro, which serves Mediterranean cuisines; Soul, which offers contemporary Indian food; Sensen, which are open-air pan-Asian and Japanese bar grills; and Mesa, which focuses on bistros, delis, lounge bars serving multi-cuisine throughout the day.
Zia Shaikh, the CEO of Svenska Design Hotels, recently revealed that the company is currently focused on creating “…a whole new segment within the Indian hospitality landscape…” This effort is two-fold. It will include small-scale luxury boutique hotels and F&B concepts.
Via: VC Circle