Sant Chatwal’s Hampshire Hotels Management and a partner, Castlewood Group, are planning 20 new luxury hotels in Asia over the next 10 years as part of an estimated US$2.5 billion investment.
The Economic Times of India reported that the duo will open the first property, under the Dreams brand, in Phuket, Thailand, next month. Along with Indonesia, the partnership wants to break into the luxury lifestyle hotel market in India.
Hampshire Hotels Management LLC Chairman Sant Chatwal said the partnership was looking at properties in Goa, Mumbai and potentially Jaipur, all with the Dreams brand. He said other properties could take one of Hampshire’s hospitality brands, which include Augustus Hotels & Resorts, Time Hotels, Dream Hotels, Unscripted Hotels and Night Hotels.
“It’s difficult to put an exact number (on the investment) as it will vary from property to property, but it could be around $2.5 billion,” Chatwal said, adding that he is bullish on India’s hospitality industry.
Singapore-based Castlewood Group is a commercial real estate development company.