11,097 keys for midscale hotels signed in 2018

A total of 11,097 keys for midscale hotels were signed in 2018, as compared to 9052 keys in 2017 and 9284 keys in 2016, revealed a report by HVS ANAROCK. The report stated that the value-driven volume customer, seeking a full- service hotel continues to drive the growth in midscale space, leaving far behind the branded economy segment, which is yet to fully find its footing in the Indian market. To add further fuel to fire, the relatively new-kids-on-the-block and considered to be outliers, such as Oyo, Treebo and Fabhotels have very quickly come to dominate the economy segment, setting the goal post a further drift for the mainstream brands.