The Postcard Hotel targets USD 1 billion of hotel assets in 5 yrs

Homegrown luxury hospitality chain The Postcard Hotel on Wednesday said it is looking to own or manage a billion dollars of hotel assets in five years.

"With over Rs 1,000 crore of assets under management today and projects underway across South Asia, The Postcard Hotel is looking at owning or managing USD 1 billion (over Rs 7,100 crore) of assets globally in 5 years," The Postcard Hotel founder and CEO Kapil Chopra told reporters here.

The company is also on track to open 50 hotels in five years across the world, he added.

The Postcard Hotel also said it is soon foraying into Sri Lanka and Bhutan as part of its international expansion plans.

"Opening of two signature hotels, one each in Sri Lanka and Bhutan is our first step towards building a global luxury hotel brand inspired by India," Chopra told PTI.

"The Postcard Hotel only wants to be in one of the five locations in the mountains, by the sea, in wild life locations, in wine estates and in historical palaces and monuments," Chopra said.

On being asked about the company's business model, he said it is largely a mix of management contract , taking a long term lease of the asset and in some cases it will be buying the assets.

The upcoming hotels will be in Uttarakhand, Karnataka, Andaman and Nicobar, Darjeeling, and Kanha Tiger Reserve in Madhya Pradesh, he added.

The company currently has three hotels in Goa. On an operational level, the hotels in Goa have been profitable since inception in December 2018.