Lords Hotels and Resorts, which is currently operating 19 hotels, is going ahead with its expansion plan and looking at 40+ hotels by 2016. “We will be opening three more hotels by end December. We have already opened six hotels this year. By 2014, we will have 30 operational hotels and the portfolio will grow to 40+ by 2016,” Rishi Puri, Associate Vice President (Operations), Lords Hotels and Resorts, said. The Group has an inventory of 1,200 rooms as of now and expects an inventory of 3,000 rooms.
The Group was initially focused on Gujarat where it operates 14 hotels. “After Gujarat, we expanded our reach to Silvasa, Jaipur, Uttarakhand and Katra in Jammu. We have also forayed out of Indian boundaries while signing up a hotel at Kathmandu. The 60 room smart Mirage Lords Inn is located strategically between the Pashu Pati Nath Temple and airport. This hotel will be operational by mid-December,” he revealed. Lords Hotels is also looking at expanding its footprint in Africa. “We are in advance state of discussion with owners in Kenya, Rwanda and Uganada,” he said. The Group, which has taken management contract route for the expansion, also owns the hotels.
Commenting on the industry, Puri said that the average room rate has taken a dip in 2013 while occupancy remained at the 2012 level. “Our hotels at religious destinations have done well. However, the occupancy of business hotels has gone down with ARR remaining the same,” he informed.
