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Sarovar hotels eyes expansion, to add 6 hotels

Hyderabad

Eyeing the Southern market for expansion,Sarovar Hotels has announced plans to set up six new projects. Three of these will be built around Chennai while the rest will be built in in Tirupati in Andhra Pradesh and Bekal and Thekkady in Kerala.

Sarovar Hotels executive director Ajay K Bakaya was in Hyderabad on April 16 to attend a program where the group rebranded the Aditya Sarovar Premier property in Gachibowli to the upscale Radisson brand in partnership with international hospitality players Carlson Rezidor Hotel Group.

Bakaya observed that the hospitality sector is unlikely to be affected by real estate prices and current trends. “We are typically looking at long-term return on investment. The industry is not saturated as the demand for the rooms will go up and in the next six months to a year, there will be a positive increase.”

The Carlson Rezidor Hotel group South Asia chief executive Raj Rana said the international brand was looking at pre-empting the demand ahead of the surge in property and land prices. We are looking at developing a property in Mysore as well as Visakhapatnam which looks promising.”

Read the full report here, Economic Times

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