For many, India has the potential to be one of the largest and most prosperous economies in the world. Some believe it is the second China and yet, for many, India is an unknown market. India is just one of those countries that is full of contrasts and contradictions; great luxury and wealth alongside mass poverty. One has to remember that India is still a relatively young country, gaining independence in 1947, and it takes time for society to find solidity. But is it a market of opportunity?

With luxury and upscale hotels finding it difficult to make money, top global chains like Marriott, Hilton, InterContinental, Starwood and Accor appear to be focusing their attentions on mid-market brands as they expand in newer territories. More than 60 percent of the hotels that are coming up are in the mid-market category and involve less capital expenditure and quicker profits, say hoteliers.

Hilton Worldwide recognised its growth potential in the mid-market segment and created prototypes of its midscale brands — Hilton Garden Inn and Hampton by Hilton — specific to the Indian market. Accor aims to have more than 35 hotels in India by the end of 2014. InterContinental Hotels plans to add 150 hotels to its India portfolio over the next 15 years, 85 per cent of which will be under its mid-scale brands, Holiday Inn and Holiday Inn Express, in tier-I and tier-II cities. Marriott too plans to scale up with its business hotel brand Courtyard by Marriott, the recent one being its first property in Bilaspur, Chhattisgarh.

India may be best known for its luxury properties, but the mid-market seems to possess the growth potential.