Sarovar Hotels Aims for Massive Expansion with 400 Hotels Targeted in Five Years

Sarovar Hotels is gearing up for substantial expansion, aiming to operate 400 hotels within five years. CEO Jatin Khanna highlights a planned double-digit revenue growth. The company, focusing on Tier-II/III cities, will maintain an asset-light model, increasing employment by adding over 10,000 jobs.

Sarovar Hotels has announced ambitious plans to expand its operations, eyeing a target of 400 hotels in the next five years. CEO Jatin Khanna revealed these plans, emphasizing the company's commitment to double-digit revenue growth while navigating the challenges of global economic conditions.

The current portfolio stands at 250 hotels, including both operational and under-development properties, totaling around 22,000 keys. The strategic focus will be on opening new hotels, with 20 openings anticipated this year alone, propelling the company towards its 2023 year-end goal of approximately 170 operational hotels.

Employing an asset-light model, Sarovar Hotels plans to bolster its workforce by over 10,000, concentrating efforts on Tier II and Tier III cities, as well as pilgrimage and emerging leisure markets. Notably, investments in branded residences are also on the horizon, illustrating the company's adaptive growth strategy.

(With inputs from agencies.)