The LaLiT Suri Hospitality Group plans a ₹600 crore investment over five years to add 1,000 keys through owned hotels and management contracts across India.
The LaLiT Suri Hospitality Group plans to add around 1,000 hotel keys over five years through owned properties and management contracts.
The LaLiT Suri Hospitality Group on Wednesday announced a Rs 600 crore expansion plan over the next five years, targeting to add around 1,000 keys to its existing inventory of 2,300, through a 50:50 mix of owned and managed properties.
Nearly 50 per cent of the new 1,000 keys are planned through owned properties, whereas the remaining half will be via management contracts.
Vrindavan will be the first property under the management contracts model, with approximately 75 keys, it said.
“We are also in the process of exploring opportunities in Chennai, Hyderabad, Leh, Varanasi, Ayodhya, Lakshadweep, Siliguri, the Andaman & Nicobar Islands, along with several other distinctive destinations. The Group is targeting close to 20 management contracts over the next few years, supporting its asset-light growth strategy,” it stated.
The planned expansion will be funded through internal accruals and savings, reflecting the Group’s financial prudence and the significant reduction in interest costs achieved over the past two years, it added.
“We plan to invest Rs 600 crore in properties where we own the land, while using management contracts to expand where our partners bring the capital. We look forward to exploring opportunities to expand our portfolio through several management contracts,” said Jyotsna Suri, Chairperson & Managing Director, The LaLiT Suri Hospitality Group.
The Group runs 14 hotels in India -- 12 luxury and two mid-scale hotels as part of The LaLiT Traveller series.
The LaLiT Ahmedabad is leading the expansion pipeline with a 240-key luxury hotel scheduled to open ahead of the 2030 Commonwealth Games. The Group is also establishing presence in Chitrakoot with approximately 50 keys.
Besides, there are plans to expand at its existing properties.
Bekal, the 26-acre site between the Arabian Sea and the Nombili River, will see an addition of 100 keys. The expansion will also extend to the hotel in Goa, with new wings and additional villas, adding 50 keys. At Udaipur, there will be an addition of two new wings, with 55 new keys.
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