Apeejay Surrendra Park Hotels plans to double number of properties by 2025

Apeejay Surrendra Park Hotels Ltd plans to more than double the number of its properties to 50 by 2025, according to company chairperson Priya Paul.

The company, which currently has 23 hotels with 1,934 rooms in total, plans to add over 1,640 rooms in its portfolio through properties in various destinations, including Pune, Amritsar, Srinagar, Dimapur, Darjeeling and Port Blair.

"We are looking at having 50 hotels by 2025," Paul told PTI when asked about the company's expansion plans post-Covid.

While the company has opted for an asset light model, she said, "We will be building some of our own, that's a combination. That's the strategy we've identified for ourselves."

The company's owned properties are less than 50 per cent of its total portfolio of hotels. Its brands include 'The Park', 'The Park Collection', 'Zone by The Park' and 'Zone Connect'.

On the recovery from the pandemic, she said occupancies have been at 90 per cent rate.

"This Q1 and H1, I think it's a record. It's been really good for us. We feel that it is a sustainable growth, demand is strong and it will just keep on going over the next few years," Paul said.

When asked about the IPO plans of the company, which was deferred due to COVID-19, she said it will be looked at again "when the market is right" but not immediately, and it could be in the next two to three years.