Tamara Hospitality plans ₹540 crore expansion to double hotel footprint
₹480–540 crore across eight new hotel and resort projects as it expands both owned and asset-light operations.The company will add about 600 rooms to its existing portfolio of 1,000-odd keys, Samir MC, chief executive officer (CEO) of Tamara Leisure Experiences, told Mint.Alongside owned developments, Tamara plans to expand by managing and franchising hotels through an asset-light model that enables pan-India expansion with lower capital investment and risk.This comes at a time when many Indian hotel ownership companies have been moving towards an asset-light or asset-right strategy over the last decade to balance out their portfolios amid strong travel demand.Founded about 15 years ago by billionaire co-founders of Infosys, SD Shibulal and S Gopalakrishnan, Tamara operates nine self-owned and managed properties across its three brands. These include The Tamara, a luxury leisure property which it owns and operates, O by Tamara, which are upscale city hotels, as well as Lilac by Tamara, a mid-scale hotel brand.
They also have Amal Tamara, an Ayurveda hospital in Alappuzha, Kerala.The company has signed its first asset-light property, a 40-room Lilac hotel in Kufri, and is open to revenue-share leases and management contracts. This marks a strategic shift from Tamara’s earlier focus on fully owned assets as it looks to expand beyond its southern base.The company is evaluating opportunities in Delhi-NCR, Mumbai and other metros through both ownership and asset-light structures.
Read on livemint.com