Hospitality firm Apeejay Surrendra Park Hotels is looking to add 10 hotels with 1,239 rooms in its portfolio across India by the end of 2022 as part of expansion plans, a top company official has said.
The hospitality firm currently has 23 hotels with 2,004 rooms under its brands — The Park Hotels, The Park Collection and Zone by The Park in India.
“We will be adding at least 10 more hotels with 1,239 rooms in our portfolio by the end of 2022 across the country. But we expect the numbers to go up based on the signings that we are doing,” Apeejay Surrendra Park Hotels Chairperson Priya Paul told PTI.
These hotels will be under all the brands of the company, she added.
“The upcoming hotels will be in locations such as Indore, Pune, Visakhapatnam, Goa, Srinagar, Amritsar, Tirupati and Vijaywada among others,” Paul said.
On being asked the business model the company follows, she said: “We follow both owned and management contract models. We have a mix of owned and managed hotels and that has helped us because we understand the concerns of the owners”.
Going forward while the company will have both owned and managed hotels, the emphasis will be on the asset light model, Paul said.
“All our Zone by the Park hotels are under the management contracts,” she added.
In 2014, Zone by The Park was launched with focus on tier II and tier III and fast going metro cities. There are around 12 of these hotels opened across the country, Paul said.
Emphasising that the hotels of the company lay great emphasis on design and creativity, she said: “Creativity is in our DNA and that is reflected in our hotels”.
When asked about the growth potential of the hospitality sector, Paul said: “We don”t have enough rooms as of today in the organised sector and as domestic travel is huge and is growing at a very fast pace so the sector will only grow”.
There is need at every level of the market but the bulk of hotels will come in the three to four star hotels category which is natural, she added.