Park Hotels group to double no of rooms in next 4 years

The Apeejay Surrendra Park Hotels group, which runs hotels under THE Park and Zone by The Park brands, will double the number of hotel rooms it has in India in the next four years, the chain's MD Vijay Dewan told ET.

The company has 22 hotels covering 2,000 rooms currently and it will add another 2,000 keys to take the number of hotels to 40 in the next four years. The chain also has a "pan India expansion plan" for its famous Flurys brand that it acquired in 1965.

Dewan said from a single outlet at Park Street in Kolkata, the chain currently has 65 Flurys outlets across West Bengal, Mumbai and Delhi, and it plans to have 200 Flurys outlets across the country in the next two years. The chain's new hotels will come up in Delhi, Digha (Bengal), Port Blair, Dimapur and Gopalpur this year. The company is growing at 18% in revenues compared to 2019 and has clocked in 91% occupancy during this financial year until August end.

"Currently, the outlook is really bright. There is not much new supply coming in, and the demand is very strong. So, we can really expect golden years ahead for the hospitality industry. As we go forward, our focus is going to be growth, customer experience, increasing efficiency and sustainability," he said.

"The bulk of the expansion would be through the asset light model which would be under the Zone by The Park brand where we plan to roughly add about 1,500 rooms. The balance 500 would be under THE Park brand," he added.



Currently, the chain owns seven hotels with the balance being management contracts or on lease. In the existing portfolio, out of the total rooms, 1,264 rooms are under THE Park hotels brand and the rest are under Zone by The Park brand.

Dewan said the company is a market leader in its segment in terms of occupancies, RevPAR, and the F&B business. "The biggest reason for this is that we offer the best entertainment facilities in hotels in the country in terms of nightclubs and bars. Weekend occupancies in most metro cities are low because there is not much to do. But in our hotels, it's different. Our F&B revenue per room is 40% higher than our competitors as per an HTL report," he said.