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Private Sector | Haryana - India | PID: 202736
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Sarovar Hotels will scale up to 150 hotels by 2025, which would be a 30 percent rise over the current base over the next few months. In 2024, it will have 125 operating hotels, as stated by the company's senior executive on the sidelines of HICSA 2024.
On 03 April, 2024, Sarovar Hotels announced the opening of three hotels- Sarovar Portico Sonipat, Grand Continent Malleshwaram, and Grand Continent Anjuna Goa. It clocked a total of seven openings in 2024, making it among the fastest-growing chain in the country.
In 2023, the company had 111 hotels, and so far in 2024, it has 120 hotels across 75 destinations.
In terms of expansion plans, the international portfolio will benefit from a robust pipeline, as the company has three properties coming up in Nepal this year, besides other three in pipeline in Africa. Seeing a firm growth of 16 percent in average room rates (ARRs) in Q1 of this calendar year, the company expects to sustain on a year-on-year basis. as also the higher occupancy rates.
Sarovar Hotels, a part of the Paris headquartered Group Du Louvre, operates and manages hotels under the Sarovar Premiere, Sarovar Portico, Hometel, and Golden Tulip brands, in three, four and five-star spectrum.
| Updated on: 11 - Apr - 2024
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