Luxury car brands to take on hotels: Euromonitor
The report, which was released at WTM 2012, says that with hotels in Asia booming, new entrants are likely to include luxury car companies, who will enter the fray in order to capitalise on the popularity of upmarket brands across Asia.
Hero Motors, India’s largest motorcycle manufacturer already signed up with Marriott’s Edition brand for a property in Gurgaon earlier in the year.
The report further says that Tonino Lamborghini plans to open 40 five-star hotels in Asia, with the first nine to be launched in China. The report predicts that Tonino Lamborghini will be followed by luxury brands from different industries, such as fashion, jewellery and cosmetics. Gianluca Filippi, CEO, Tonino Lamborghini has been quoted as saying, “There is huge potential in the hospitality industry for our brand. As ofnow our projects are focused on Asian markets only."
Within the segment of luxury car companies, it is expected that Mercedes-Benz, Porsche, Ferrari, Maserati, Bentley and Jaguar could successfully foray into hospitality business.