Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Sarovar Hotels has announced the launch of a 304-key Royal Tulip hotel in Kathmandu, Nepal, expected to open in the first half of 2025. This hotel, developed in collaboration with Massif Hotel, will surpass Nepal's largest existing hotels. Targeting mountaineers, pilgrims, and business travellers from India and Southeast Asia, the property will offer competitive room rates, making it an attractive destination for weddings and events. Sarovar Hotels is also expanding with additional properties planned across India, Africa, and more. They expect a 12-13% revenue growth in 2025 due to an increase in new properties.
Sarovar Hotels has revealed its plans to open Nepal's largest hotel, a 304-key property under the Royal Tulip brand, expected to be operational in the first half of 2025. This significant development will be part of 15 hotels the group intends to introduce in 2025 across both India and international markets, as per Ajay K. Bakaya, Chairman of Sarovar Hotels. Advertisement
Developed in partnership with the Nepal-based Massif Hotel, the hotel will be situated near Tribhuvan International Airport in Kathmandu. Upon opening, it will surpass the size of the country's current largest hotels, The Soaltee and Hyatt Regency, which boast 284 and 280 rooms, respectively.
The hotel will target a broad range of clientele, including mountaineers, pilgrims, and business travellers from India and Southeast Asia. Bakaya mentioned that room rates in Kathmandu are lower than those in India, which makes it an attractive location for weddings and events.
In 2024, Sarovar Hotels expanded its portfolio by adding 27 properties, increasing its total to 135 hotels. Of these, around 55% are under the mid-market Sarovar Portico brand. The group has plans to broaden its reach with new developments in Africa, including projects in Somaliland and Uganda, complementing its established presence in Kenya and Zambia.
In India, the group is also set to open a 156-key Sarovar Portico hotel in Sriperumbudur near Chennai, which will be Sarovar's third owned property, following those in Chandigarh and Roorkee. Most of Sarovar's hotels are managed on behalf of their owners.
Bakaya forecasted a 12-13% year-on-year revenue growth for the calendar year 2025, attributing this to the ramp-up of new properties, which is expected to boost occupancy rates and average daily rates.
Sarovar Hotels is gearing up for an ambitious expansion. The new properties will cater to diverse travellers and offer competitive pricing, enhancing its appeal in the region. With a projected 12-13% revenue growth in 2025, Sarovar Hotels is set to strengthen its position in the global hospitality market.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
