Sarovar eyes 150 hotels by 2025, sees robust rise in room rates

Sarovar Hotels will scale up to 150 hotels by 2025, a near 30 per cent rise over the current numbers in the next few months.

The company is also expecting average room rates (ARRs) to be in the 16 per cent range on a yearonyear basis.

“Our pipeline is very robust. By 2025, we will reach 150 hotels and in 2024, we will have 125 operating hotels, which is an addition of 10 over what we have now,” Ajay Bakaya. MD, Sarovar Hotels, said on the sidelines of HICSA 2024.

In 2023, the company had 111 hotels and so far in 2024, it has 120 hotels across 75 destinations.

“We have seen a growth of 16 per cent of ARRs in Q1 of this calendar year; against 89 per cent last year. We expect to continue and stabilise it (ARRs) at this (range). Our occupancy rates have also been more than last year,” Bakaya said.

The company has three properties coming up in Nepal this year, besides other three in pipeline in Africa

INTERNATIONAL BIZ

On the international portfolio, Bakaya said the company has three properties coming up in Nepal this year, besides other three in pipeline in Africa. On Wednesday, Sarovar Hotels announced the opening of three hotelsSarovar Portico Sonipat, Grand Continent Malleshwaram and Grand Continent Anjuna Goa. Sarovar has achieved a total of seven openings in 2024, making it the fastestgrowing chain in the country.

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. The brands cover the 3, 4, and 5star spectrum.

The Group Du Louvre, Europe’s second largest hotel group, is a major player in the global hospitality industry, has a portfolio of over 1700 hotels in 60 countries. The Golden Tulip hotels, part of Group Du Louvre, are now managed by Sarovar in India.