‘Will deploy ₹800 crore to acquire new hotels by FY27’
Subscribe to enjoy similar stories. FMCG and tobacco conglomerate Dharampal Satyapal Group's (DS Group) hospitality arm is aggressively expanding its hospitality division, with plans to increase its portfolio from six hotels to 10-12 by FY27. The company is focusing on both city and resort 4–5-star hotel category properties, primarily in "high-growth" regions across India, Rajiv Kumar, vice chairman of the company, said, speaking exclusively to Mint.
This will include tier I and tier II cities. In the last one year, the company has deployed ₹200 crore in expanding its existing assets. By 2025, it will add 300 rooms to its existing portfolio, followed by another 500 by 2026, with a goal to double the total room inventory by 2027 to 2000.
Currently, DS Group operates properties such as the Radisson Blu in Guwahati, Intercontinental Jaipur, and Renaissance Bengaluru as well as the Manu Maharani in Nainital. The company is expanding its footprint into emerging markets in the northeast and eastern India, including a renovation of its Radisson Blu hotel in Guwahati. "Our investments will focus on high-demand markets," he said.
Also Read: PE fund Wilson & Hughes to pump in up to ₹1,000 crore to revive Cox & Kings and its sub-brands "Hotels have become a very strong business now. The challenge historically has been that many years ago, those who had money to deploy, were focused more on other types of real estate assets since they had a shorter gestation period before they gave returns. Today, the hospitality market is rewarding serious players well," he added.
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