Jain Group Boosts Hospitality Growth with Rs 500 Crore Investment by 2030

Kolkata's Jain Group plans a substantial Rs 500 crore investment in the hospitality sector by 2030, focusing on growth through acquisitions. With a new hotel brand collaboration with Sarovar, they aim to develop a 1,000-key portfolio. Jain Group's strategy includes opening several new hotels and exploring capital market opportunities.

Kolkata-based Jain Group announced its ambitious plan to invest Rs 500 crore in the hospitality sector by 2030. The decision underscores its strategic focus on inorganic growth, with the hospitality segment contributing approximately 50% to its annual revenue.

The group facilitated Sarovar's re-entry into Kolkata by launching Sarovar Portico Kolkata at Rajarhat, a 128-key hotel. This marks the brand's return after five years, following the end of Sarovar's management tie-up with Peerless Hotels in 2018.

Jain Group aims to open a 95-key hotel within three months alongside two additional Holiday Inn hotels. Managing Director Rishi Jain highlighted the group's commitment to expanding its hospitality footprint, driven by growth in both real estate and hospitality at a 30% CAGR.

(With inputs from agencies.)