US hotel chain Best Western International is planning to invest Rs.1,600 crore ($301 million) to open 66 new hotels, including 20 five-star ones, spread across India in the next five years.
"Best Western's expansion plans will see an inflow of Rs.1,600 crore investments into the Indian hospitality industry. These expansion plans will reiterate the company's leadership position as the fastest growing hotel chain in the country," the company said in a statement.
Best Western, one of the biggest hospitality chains in the world, hopes to open 10-15 hotels every year. The hotels will be set up in metros and big and small cities, especially in manufacturing and trading cities.
"India is the one of the fastest growing geography for the company and we are confident of meeting the hospitality needs across all segments of travellers in India," said David Kong, president and chief executive officer, Best Western International Inc.
"Best Western International is focused on expansion of its presence in India and is confident that India will play a prominent role in the global growth plan of the company. It will also focus on the growth opportunity beyond the metros where quality hospitality is just emerging especially in the Tier-II and Tier-III cities," he added.
The company will focus on new areas of growth besides its continuing with its thrust on the three-star segment. Its new focus area of growth will be the four and five-star hotel categories.