India’s largest hospitality company, Indian Hotels (IHCL) on Friday signed agreements to acquire 51% stake in Sparsh Infratech, owning company of Atmantan, a luxury wellness centre near Pune, for Rs 240 crore.
While IHCL has its own wellness programme named J Wellness at its properties, Atmantan will be the first dedicated wellness centre in its portfolio, marking its entry into the integrated wellness segment.
Speaking with FE, IHCL CEO and MD Puneet Chhatwal said: “India is changing. People are very aware of wellness. The more Indians will earn, the more they are willing to pay for it and go to such destinations. When you go to Australia or Switzerland, you pay $1,000 a night, here you pay $250-300.”
He added that there are no plans to bring any existing IHCL properties under the Atmantan brand, but they will help expand the brand instead. “We will provide our financial muscle, sales network, procurement synergies, marketing infrastructure and our access to land banks to enable growth for Atmantan,” he said.
Nikhil Kapur, founder-director of Atmantan Wellness Centre, shared expansion plans, saying: “Hyderabad is under our radar next, with about a 100-key centre in the works. With IHCL as a partner, we can move faster and quicker, and establish world-class healing centres.”
Of synergy between the brands, Chhatwal said: “We have spas in our hotels, but they are miniatures of what actually happens in a place like Atmantan. We can synergise and bring some of the best practices of Atmantan into the J Wellness circle, maybe have some pop-ups and integrate some services.”
Kapur added: “Consumer taste for wellness services has exploded in the past two years and we have seen about 72% guests from within India alone. India is going through a big phase of growth and Indian consumers are spending big.”
Recognised by the ministry of tourism as the “best wellness centre (West)” and recipient of multiple national and international accolades, Atmantan is a NABH-certified and a GOLD LEED-certified centre.
