Important! This article is written by orangesmile.com editors and is protected by copyright law. The article can only be re-used with a direct link to www.orangesmile.com

Sarovar Plans to Open 4 new hotels in India

Sarovar Hotels & Resorts, the Mumbai-headquartered hotelier, has announced the opening of 4 new accommodations mainly in the east of India. These will be hotels in Bhubaneswar, Guwahati, Raniganj, and Tezpur. The company will participate in the building of these projects on a 3:2 equity-to-debt ratio. Thus, Sarovar will invest approximately 1.5 billion of rupees (US$34 million) into 4 new hotels in India.

Currently the hotelier has 54 properties in the country and outside it. Sarovar is a management company that works under franchise agreements. Outside India the company operates hotels under Park Plaza and Park Inn brands by Carlson. The company also has its own brands. Sarovar has ambitious plans concerning this and next years as the hotelier plans to double its portfolio by the end of the next year. This will expand the portfolio of the company to over 100 hotels.

Ajay Bakaya, the executive director of the company, tells current growth of the hotel industry in India reaches 8%. However, the majority of hotels open in large cities and metropolitan areas of the country, so the east and northeast of the country still suffer from the lack of accommodations.

Previous article / Back to news index

Stay in touch with the latest news of a worldwide hotel industry. All up-to-date analytics, news, and reports about hotel business trends on OrangeSmile.com.