In Short:
Sarovar Hotels plans to increase its number of hotels to 150 by 2025, a 30% rise from current numbers. The company expects a 16% growth in average room rates annually. They aim to have 125 operating hotels by 2024, up from 111 in 2023. They are also expanding internationally, with properties in Nepal and Africa. Sarovar Hotels, part of Group Du Louvre, operates under various brands covering a range of star ratings.
Exciting Expansion Plans Ahead for Sarovar Hotels
Get ready for more amazing stays as Sarovar Hotels announces its ambitious plan to scale up to 150 hotels by 2025. That’s nearly a 30% increase from the current numbers, bringing more opportunities for unforgettable experiences!
Positive Growth Predictions
According to Ajay Bakaya, the Managing Director of Sarovar Hotels, the company is on track to have 125 operating hotels by 2024, with projections showing an impressive growth in Average Room Rates (ARRs) by 16% year-on-year. This is a significant improvement from the previous year’s 8-9% increase.
In 2023, Sarovar Hotels proudly operated 111 hotels and has already expanded to 120 hotels in 2024, spread across 75 destinations. It’s clear that Sarovar Hotels is on a rapid rise!
International Expansion
The excitement doesn’t stop there! The company has its sights set on global expansion with three properties in Nepal scheduled for 2024, and three more in Africa in the pipeline. The world is about to become an even more welcoming place with Sarovar Hotels.
New Openings and Achievements
In a recent announcement, Sarovar Hotels unveiled the opening of Sarovar Portico Sonipat, Grand Continent Malleshwaram, and Grand Continent Anjuna Goa. With a total of seven openings in 2024, Sarovar Hotels is proudly claiming the title of the fastest-growing chain in the country.
About Sarovar Hotels
Sarovar Hotels, a part of the Paris headquartered Group Du Louvre, manages and operates a range of hotels under brands like Sarovar Premiere, Sarovar Portico, Hometel, and Golden Tulip. Covering the 3, 4, and 5-star spectrum, these brands offer top-notch hospitality experiences.
Group Du Louvre, Europe’s second largest hotel group, boasts a portfolio of over 1,700 hotels in 60 countries. As part of this prestigious group, Sarovar Hotels now manages the Golden Tulip hotels in India, further solidifying its position in the global hospitality industry.
