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apj surendra park hotel plans to double the number of properties by 2025

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apj surendra park hotel plans to double the number of properties by 2025

New Delhi, Oct 2 (PTI) Apeejay Surendra Park Hotels Limited plans to double its number of properties to 50 by 2025. The company’s chairperson Priya Paul gave this information.

The company currently has 23 hotels with a total of 1,934 rooms. The company plans to add more than 1,640 rooms to its portfolio in the next few years across multiple locations including Pune, Amritsar, Srinagar, Dimapur, Darjeeling and Port Blair.

When asked about the company’s expansion plans, Paul told PTI, “We are looking forward to take our hotel count to 50 by 2025.”

He said that he has opted for the ‘asset light model’ for this expansion. Many of these properties will be built by the company itself.

The proportion of owned properties in the company’s total portfolio of hotels is less than 50 per cent. Brands under it include ‘The Park’, ‘The Park Collection’, ‘Zone by the Park’ and ‘Zone Connect’.

When asked about the company’s plans to go for an initial public offering (IPO), he said, “Will see again when the market is right. There is no such plan right now and it can be done in the next two to three years.”

The company’s plans to launch an IPO were postponed due to the COVID-19 pandemic.

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