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 ARRs to be in the 16 per cent range on a year-on-year basis.

“Our pipeline is very robust. By 2025, we will reach 150 hotelsAnd 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 hotelsAnd so far in 2024, it has 120 hotels across 75 destinations.

“We have seen a growth of 16 per cent of ARRs (average room rates) in Q1 of this calendar year; against 8-9 per cent last year. We expect to continue and stabilise ARRs at this (range). Our occupancy rates have also been more than last year,” Bakaya said.

Expansion plans

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 fastest-growing 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 5-star 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 1,700 hotels in 60 countries. The Golden Tulip hotels, part of Group Du Louvre, are now managed by Sarovar in India.