Sarovar is all set to expand with 10 hotels this year

The hospitality management firm’s international portfolio is also growing at a steady pace, with its first operational hotel in Lusaka, Zambia, and one each in Kampala, Uganda, and Hargeisa, Somaliland, expected to open in early 2024. Manakamana, Nepal in 2024. We are in advanced stages of bringing our hotels under the umbrella of Louvre Hotels Group onto a global distribution platform,” said Ajay K. Bakaya, Managing Director, Sarovar Hotels.

France’s Groupe de Louvre bought a majority stake in Sarovar Hotels in India in 2017 for an undisclosed amount. The company currently operates around 102 hotels across India and is planning to add around 10 hotels in a year to its portfolio. However, Sarovar has only three hotels as it follows a debt-free model. Going forward, it aims to focus on establishing a foothold in markets such as the Northeast, Varanasi and Patna, where it currently does not have a presence. Besides Sarovar, the company is also focusing on building its four-star Golden Tulip brand, which competes with Courtyard by Marriott and Four Points by Sheraton in India. Meanwhile, the company has trimmed some old Golden Tulip hotels and reduced the total portfolio from 30 to nine, and will add two to three hotels a year under this brand.

“Despite the competition in this category, we believe there is room for growth for many brands. Some of the hotels we deflagged were not up to our standards and resulted in lower brand value than expected We aim to grow it into a strong franchisee brand over the next five years.

But it is also building Louvre hotel brands like the Campanile in cities like Chennai.

According to a 2022 report by hospitality consultancy Hotelivate, its latest, Sarovar is the fourth largest brand in the country by city presence. IHCL is the parent company of the top brand Taj Hotels. But in proportion to the number of rooms per hotel, Sarovar is in the top five in the country, with a minimum of 80 rooms per hotel. The report states that by July 2022 it would have around 6000 rooms.

According to the World Travel and Tourism Council, in its ‘Economic Impact of Cities Report’ for 2019, the travel and tourism sector contributed approx. 36,200 crores and more to Delhi’s economy 25,000 crore to Mumbai.

In 2022, the area of ​​Delhi was expected to increase by 32,400 crores, while the cost of Mumbai is estimated to be slightly less. 22,500 crore, down just 10% from 2019 levels.