Della Group, known for its 300-room resort in Lonavala, Maharashtra, plans to build about 3,600 hotel keys across township projects, marking its expansion from operating a single destination resort to developing hotels at scale through partnerships with real estate developers.
The privately held company, founded by entrepreneur Jimmy Mistry, has signed 12 projects across Pune, Ahmedabad, Nagpur and Raipur, with another project in Hyderabad expected to be announced soon.
The strategy comes as India's hospitality sector is seeing strong travel demand and developers look beyond conventional mixed-use projects to differentiate residential offerings.
Della is betting that destination attractions such as adventure sports, wellness, motorsports and weddings can generate year-round footfall, boosting both hotel occupancy and the value of surrounding real estate.
“We don’t do vanilla real estate hospitality projects. We are now doing theme-based, hospitality-driven developments which creates value for the traveller and the developer,” Mistry told Mint.
“Adventure-related hospitality drives demand. Weddings drive a whole different segment and so do gastronomy and entertainment, and each of these brings its own footfalls,” he added.
Projects by developers such as DLF Limited, Brigade Group and Prestige Group typically combine hotels with offices, retail and residences.
In recent years, several top-end resorts like Indian Hotels with its Ama Stays have expanded wellness programmes, while integrated developments are increasingly combining hotels with retail, residences and event venues to diversify revenue. Builder Emaar's The Palm Drive in Gurugram includes The Leela Ambience Gurugram Hotel & Residences as part of the larger mixed-use project with golf greens.
Della Resorts & Adventure Pvt. Ltd., the group’s hospitality arm, reported revenue of about ₹200 crore in FY25, according to its latest financial statements, up from ₹170 crore in FY24 and about ₹150 crore in FY23.
The company has about 3,600 hotel keys across 12 projects with a combined gross development value (GDV) of about ₹46,000 crore.
Township strategy
Its largest announced project is a proposed 1,100-acre township near Ahmedabad featuring a 1,200-room hotel alongside residential, retail and leisure assets, including a motor racing circuit, golf course and medical wellness centre.
"In Pune, we did a collaboration with the Hiranandani group. On this land, they were selling at ₹7,000 (per sq ft). We are now selling at ₹17,500 per sq ft,” he said.
Unlike hotel operators such as Indian Hotels, Marriott International or InterContinental Hotels Group, which primarily expand through hotel management agreements, its model is tied to township development. The company does not acquire land but partners with developers, contributing the hospitality concept, design and operations. It also takes an equity stake in parts of the hospitality business, Mistry said.
Pune's Hiranandani Group and Krisala Developers project will be a 40-acre project in Hinjewadi that includes a 300-room hotel and branded residences. Its other developments are located in Nagpur and Raipur, while the company said it is also pursuing projects in north India.
India’s hotel industry continues to see record signing activity, with operators adding inventory through asset-light management contracts amid sustained travel demand. The company is instead seeking to use hotels as the anchors for larger real estate developments, with residential and commercial components built around them.
According to HVS Anarock, the industry posted 64-66% occupancy in the June quarter, with average room rates rising 6-8% year-on-year to ₹8,100-8,300 and revenue per available room (RevPAR) increasing 11-13%. In June alone, hotel performance was also aided by a low base, as travel in June 2025 had been disrupted by geopolitical tensions, the early onset of the monsoon, the Air India crash and subsequent flight disruptions.