HOSPITALITY has been a part of the Indian way of life because of its rich cultural heritage and diversity. With its large population, diversified natural resources and strong macro-economic fundamentals, the country will always be a great destination for hotel investment.

In the early 1990s, when the government opened its doors to foreign investment in multiple industries, hospitality majors from across the world looked at India as a country with immense potential. This growth, and the potential of the hospitality sector, stimulated Carlson's decision to enter the market in the mid-1990s and open its first hotel in Delhi in 1998 (now the Radisson Blu Plaza New Delhi).

By the year 2000, Carlson had established joint ventures to provide support and brand growth for both its hotels and restaurants businesses. Today, Carlson Rezidor, Carlson's hotel business, stands strong as India's No. 1 international hotel chain, measured by number of hotels, with over 70 hotels in operation and 44 in the pipeline. Over the years, we realised that the key to our growth in India has been the value of our brands and the strong relationships we have forged with our hotel owners.

Carlson Rezidor's strategy is to establish a presence for all our hotel brands in all major cities and state capitals with further penetration into secondary and tertiary markets. Our brand portfolio spans from upper upscale to mid-scale segments, namely Quorvus Collection, Radisson Blu, Radisson’?, Radisson Red,Park Plaza’?, Park Inn by Radisson and Country Inns & Suites By Carlson. We are able to serve travellers with varying needs and expectations and therefore have a good representation across geographical locations.

We believe future opportunities are greater in the mid-scale segment, which is underserved. Some reports point to the middle class in India growing to almost 600 million people by the year 2025, which is double the population of the United States of America. This creates a young workforce of executives and therein lies the opportunity for corporate business in the mid-scale segment. Likewise, religious destinations and other economically emerging cities add to hotel room demand, again in the midscale segment, where our Country Inns & Suites and Park Inn by Radisson brands are perfectly positioned.

Carlson Rezidor has ambitious plans of doubling its India portfolio by 2020 and being the No. 1 hospitality company to work for. Last year, we introduced two new brands globally -- Quorvus Collection and Radisson Red. The Quorvus Collection is a new generation of expertly curated luxury hotels inspired by the lifestyle and sensibilities of the contemporary global traveller. Radisson Red is Carlson Rezidor's lifestyle elect brand targeted at millennial-minded consumers.

We are excited about bringing these brands into India soon and are looking out for strategic partners who share the same vision of accelerating tourism growth in India.

K.B. Kachru is Chairman, South Asia, of the Carlson Rezidoz Hotel Group