Sarovar Hotels and Resorts to add over 15 properties by end of 2021
Hospitality firm Sarovar Hotels and Resorts is looking to add over 15 properties, mainly in tier-II and -III cities in India, by 2021-end as part of its expansion plans, a top company official has said.
The company currently manages 93 hotels with more than 6,900 rooms in 55 destinations in India and Africa. “Strategic expansion plan for 2021 is to add more than 15 hotels focussing on tier-II and tier-III cities including Panipat, Morbi, Dalhousie, Katra, Dibrugarh, Latur, Mussoorie, Dhamtari, Udaipur and Jalandhar,” Sarovar Hotels and Resorts Managing Director Ajay K Bakaya told.
On the business model of the company going forward, he said it will continue to mainly follow the management contract model.
The upcoming hotels will be primarily under the Sarovar Premiere, Sarovar Portico, and Golden Tulip brands, he added. On plans to expand its international presence during this period, Bakaya said: “The international expansion plan will see Sarovar expanding its Portico brand with opening a hotel in Dar Es Salaam, Tanzania.”
On the business model of the company going forward, he said it will continue to mainly follow the management contract model. “We are targeting rapid expansion of Golden Tulip brands through the franchising model too,” Bakaya said.
Talking about the impact of COVID-19 on the industry and the road map ahead, Bakaya said: “The impact is huge on the industry and yet not predictable. But, at current recovery levels, most hoteliers would be happy to see 50 per cent occupancies in their hotels by December 2020.”
A likely sustained recovery in business and leisure source markets would be in six months post a vaccine being well in place in India, he added. At present, the company’s three overseas properties are in Africa — one in Zambia and two in Kenya.