Priyanka Saxena Ray
How has business been in 2023 from a business point of view?
Excellent for us! We operate on a Jan to December fiscal year, and we’ve experienced a remarkable 70% year-on-year growth. Throughout the year, we opened twelve new hotels, signed 37 new projects, and are actively expanding.
You have always believed on focusing on quality rather than just numbers. Can you elaborate on what quality means to you in terms of partnerships and deals?
Absolutely. When considering new partnerships, our focus is always on where we can add value, particularly from the perspective of enhancing guest experiences. However, it’s crucial not to compromise on quality for quantity. Opening twelve hotels in a year presents significant challenges, and maintaining a high standard requires strong bench strength. Additionally, we’re also starting our own management training program to ensure we have a skilled and dedicated team to deliver exceptional service.
Looking ahead to 2024, what are your future plans and outlook?
We’re cautiously optimistic about 2024. While I typically don’t forecast beyond five years in India due to the dynamic nature of the market, we’re anticipating strong growth, aiming for a 10-11% increase. Additionally, we plan to open at least twelve new hotels, expanding into both new and existing markets.
Can you share more about the new destinations you’re exploring?
We’re venturing back into Africa with projects in Nairobi, Lusaka, Kampala, and Hargeisa. Additionally, we are aiming to open three hotels in Nepal in 2024. These expansions reflect our commitment to diversifying our portfolio and tapping into emerging markets.
With the rising trend of hotel buyouts for weddings and events, how is Sarovar Group adapting to this trend?
Weddings are indeed a significant aspect of our business. We prioritise large banquet halls to accommodate such events, and we’re increasingly offering buyout options in select hotels. We’ve even introduced the concept of a wedding studio in some properties, providing a dedicated space for clients to explore wedding setups and options. This aligns with the government’s push to promote destination weddings in India, and we’re optimistic about the opportunities this presents.
How important is Food and Beverage (FNB) revenue for your hotels?
Honestly, F&B hasn’t really been our strength. Hoteliers tend to focus more on room revenue, but I believe there’s untapped potential in our F&B offerings. With over 110 hotels and more openings, our corporate chefs are stretched thin. To inject creativity and elevate our F&B reputation, we’ve brought in seasoned chefs to introduce new concepts. For instance, we’re launching a rooftop restaurant in Rajkot, and Pondicherry is set to become a culinary hotspot.
What sustainability initiatives is Sarovar implementing?
We’ve taken significant steps towards sustainability. Around 53 of our hotels now have their own bottling plants, reducing plastic usage. Additionally, we’re pioneering a new approach in our upcoming hotel in Chennai, where every room will have RO water on tap, eliminating the need for bottled water entirely.
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