Sarovar Hotels will add seven hotels to its Sarovar Portico and 5-star Sarovar Premier brand portfolio in locations like Delhi, Katra and in Andhra Pradesh by 2022
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NEW DELHI :
Sarovar Hotels and Resorts, part of the Paris-headquartered hospitality firm Groupe Du Louvre, is planning to expand its 4-star Sarovar Portico and Golden Tulip brands in India.
The company will add seven hotels to its Sarovar Portico and 5-star Sarovar Premier brand portfolio in locations like Delhi, Katra and in Andhra Pradesh by 2022, said its managing director Ajay K Bakaya. The company will also launch three Golden Tulip hotels in the same period.
This year, the business has already signed up five Sarovar Portico hotels in locations like Gurugram, Greater Noida, Mussoorie and Dibrugarh.
The 27-year-old company currently manages more than 95 hotels in 65 destinations in the country as well as overseas. It has properties in the 3-, 4- and 5-star categories under its four brands -- Sarovar Premiere and Portico, Golden Tulip and 3-star brand Hometel.
Bakaya added that for the company, typically, the 100+ room brand Sarovar Portico does better than any of its other brands. It currently has about 60 Sarovar Portico hotels.
While business for many hotel companies is gradually inching back, average room rates for Sarovar are getting closer to normal, Bakaya said. "Occupancies too are at 80% of pre-covid covid-19 levels. This year from July to September, we have had a steady straight-line growth and we see that we will come back to pre-covid levels in the next six months," he added.
India has about 145,000 branded hotel rooms in the country right now and by 2025-26 this figure is set to rise to 1.8 lakh rooms, according to hotel consultancy and advisory Hotelivate.
Among the proposed hotel inventory, the upscale segment will remain the most popular with hotel investors and developers. The upper to mid-market and the mid-market segments will be the next most popular category of developments and together will contribute to almost 75% of the new supply that is expected to come in over the next five years.