“Our pipeline could be very strong. By 2025, we are going to attain 150 hotelsAnd in 2024, we can have 125 working inns, which is an addition of 10 over what we have now now,” Ajay Bakaya MD, Sarovar Lodges, stated on the sidelines of HICSA 2024.
In 2023, the corporate had 111 hotelsAnd to this point in 2024, it has 120 inns throughout 75 locations.
“We’ve got seen a progress of 16 per cent of ARRs (common room charges) in Q1 of this calendar yr; in opposition to 8-9 per cent final yr. We anticipate to proceed and stabilise ARRs at this (vary). Our occupancy charges have additionally been greater than final yr,” Bakaya stated.
Growth plans
On the worldwide portfolio, Bakaya stated the corporate has three properties arising in Nepal this yr, moreover different three in pipeline in Africa.
On Wednesday, Sarovar Lodges introduced the opening of three hotelsSarovar Portico Sonipat, Grand Continent Malleshwaram, and Grand Continent Anjuna Goa. Sarovar has achieved a complete of seven openings in 2024, making it the fastest-growing chain within the nation.
Sarovar Lodges, part of the Paris headquartered Group Du Louvre, operates and manages inns beneath the Sarovar Premiere, Sarovar Portico, Hometel, and Golden Tulip manufacturers. The manufacturers cowl the three, 4, and 5-star spectrum.
The Group Du Louvre, Europe’s second largest lodge group, is a serious participant within the world hospitality business, has a portfolio of over 1,700 inns in 60 nations. The Golden Tulip inns, a part of Group Du Louvre, at the moment are managed by Sarovar in India.
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