The company has signed its first apartment hotel, Pride Suites, in Gurugram. Credit: ArtisticOperations/Pixabay.com.

India-based Pride Hotels & Resorts has announced plans to expand its brand through long-term leases, as reported by ETHospitalityWorld.com.

The company is currently negotiating with a few owners in the Delhi National Capital Region for a long-term lease partnership model.

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Pride Hotels & Resorts AVP for North India Mohammad Shoeb said: “From owning hotels to managing hotels, now we are going into a long lease format.

“We are moving full throttle on a long lease model of 15 years and more with large inventory assets. We are in talks with two large companies.”

The planned properties will be located in the cities of Delhi and Gurugram.

The company has signed its first apartment hotel, Pride Suites, in Gurugram and is actively pursuing more opportunities in extended stay accommodations.

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Shoeb added: “Besides our flagship 385-room Pride Plaza Aerocity hotel, we have expanded to Mussoorie, Rishikesh, Rudraprayag and Haldwani. We will be opening a hotel in Badrinath soon.

“Moreover, we have three more locations signed with the owner of the Pride Biznotel Haldwani. These include a 5-star resort in Corbett, another 5-star hotel in Haldwani and a third one on Mall Road in Nainital.”

In the northern region of India, the company’s other upcoming projects include Dehradun and Kanpur, where the hotels are nearing completion and are anticipated to open later this year.

The hotel group plans to open roughly one new location per month in the next 18 to 24 months.

Pride Hotels & Resorts began its hotel operations in the city of Pune, Maharashtra, in 1988.