Source: Business line:V. Rishi Kumar: Hydrabad,March, 26,2010
Sarovar Hotels, the Delhi-based hospitality management services provider handling 42 properties, including two overseas, is set to add around 18 properties next financial year.
The company is scouting for opportunities to enter into deals for hospitality projects in Special Economic Zones, along manufacturing clusters and growth corridors, according to the Executive director of Sarovar Hotels, Ajay K Bakaya.
“In addition to developments of properties in India, after two successful associations abroad, we are exploring opportunities to work on projects in the Middle East, and South East Asia in particular,” said Bakaya.
“The expansion process will help sustain the growth plan initiated by the company. During 2009-2010, we have added nine properties and plan to add about 18 more during 2010-2011. This will take the total number of rooms under management to close to about 5,000,” Bakaya added.
Sarovar is set to add a 230-room property in Hyderabad at the Gachibowli IT hub by the end of the year, marking its entry into Andhra Pradesh.
Sarovar Hotels expects to close next year with revenues of about Rs 800 crore.
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