Published on : Monday, April 9, 2018
India’s hotel chain Saraf Hotel Enterprises is looking at brown-field expansion and investigation for the properties with minimum 200-250 room capacity. This will make the foreign direct investment by constructing new facilities in a country outside of where the company is headquartered.
Saraf Hotel Enterprises said that the future of the company lies in acquisitions as greenfield expansion is time consuming.
It adds more to the cost when a property is developed from the scratch. They are mainly looking to acquire properties with minimum 200-250 rooms or even more that they will further develop to their standards.
Saraf Hotel Enterprises Joint MD Umesh Saraf said, the company is looking at metro cities, leisure destinations or any locations that can up over 200 rooms hotel.
The company currently has 11 operational properties and five under various stages of development.
Saraf Hotel Enterprises will launch Azaya Beach Resort Goa this week, an upscale and luxurious property.
It offers 114 rooms and suites, out of which 38 rooms feature private plunge pools and a sea facing suite.
Other properties are in the development stage: Visakha Devi, Bodh Gaya, with an inventory of 74 rooms, Hyatt Regency Guwahati with 200 rooms, Bhubaneshwar – Asian Hotels (East) with 160 rooms and Trivandrum and Jaipur – Chartered Hotels with 150-120 rooms.
Saraf Hotel Enterprises said even as most of the hotels are under the global hospitality group branding, Hyatt, it is also looking at other international brands for its future hotels.