"Sarovar to Launch 15 Hotels in Calendar Year 2025".

Sarovar Hotels has announced plans to open 15 new hotels in 2025, both in India and internationally. Among these, the company will unveil Nepal's largest hotel under the Royal Tulip brand, featuring 304 keys. Set to open in the first half of 2025, the new hotel will be located near Tribhuvan International Airport in Kathmandu, in collaboration with Nepal-based Massif Hotel.

Currently, the largest hotels in Nepal are The Soaltee and Hyatt Regency, with 284 and 280 rooms, respectively. The new hotel aims to cater not only to mountaineers and pilgrims but also to business travelers from India and Southeast Asia. Ajay K. Bakaya, Chairman of Sarovar Hotels, highlighted the affordability of room rates in Kathmandu, making the city an attractive destination for weddings and events.

In 2024, Sarovar added 27 hotels to its portfolio, bringing the total to 135 properties. Approximately 55% of these are under the mid-market Portico brand. Looking ahead, Sarovar plans to expand its footprint further with properties in Somaliland and Uganda in Africa, joining its existing hotels in Kenya and Zambia.

The company is also developing a 156-key hotel in Sriperumbudur near Chennai under the Sarovar Portico brand. This will be the third owned property in Sarovar's portfolio, alongside those in Chandigarh and Roorkee. Most of the company's other properties are managed on behalf of owners.

“We expect a revenue growth of 12-13% year on year for CY 2025, driven by the ramp-up of new properties, increased occupancy, and higher average daily rates,” Bakaya said.

HBL