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Asian Hotels to invest over Rs 300 crore in five years

Asian Hotels is looking to expand its portfolio from the present base of three properties

Archana SharmaNew Delhi

Asian Hotels is looking to expand its portfolio from the present base of three properties. Sandeep Gupta, executive director, Asian Hotels (West), informed that the company is looking at acquisitions in metros as well as a business hotel in Goa. Setting aside a budget of Rs 300-400 crore for the same, to be invested in the next four-five years, Gupta is also open towards micro-market projects. At present, Gupta owns the Hyatt Regency Mumbai, JW Marriott New Delhi Aerocity, and Clarion Collection Hotel & Serviced Apartments, Delhi.

Explaining his choice for the markets being targeted, Gupta stated, “Goa is not just a leisure destination but also a major MICE hub and with the new airport wing recently opened and another airport being planned, Goa is bound to become a major conference destination and therefore we’ll be looking at a resort plus convention property.” He is also considering equity partnerships as well as a micro market project near Delhi Aerocity.

Gupta feels that luxury hotels in mid segment markets suffer in terms of RevPar and the metro cities are able to penetrate the surrounding markets or the micro markets and therefore he is more inclined towards investment in the metro regions. Commenting on the current  performance of his properties in Mumbai and Delhi, Gupta stated that Hyatt Regency, Mumbai has stable occupancy and ADR while the JW Marriott, New Delhi Aerocity has shown a 10 per cent growth in terms of occupancy than last year and therefore keeping the same in mind, he is expecting at least 20 per cent increase in ADRs.

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