Realty developer Axis Ecorp to operate boutique hotels at holiday destinations

Real estate developer Axis Ecorp has planned to develop a portfolio of 10-12 boutique hotels at holiday destinations, Aditya Kushwaha, CEO and Director said.

The company has entered the hospitality segment with Deefellows and the first property under the brand will be operational by April in Jim Corbett.

Deefellows had plans to expand across India and open premium resorts and luxury stays in all major holiday destinations, including Uttarakhand, Uttar Pradesh, Rajasthan, Himachal Pradesh, Kerala, and Goa.

In the first year of operations, the company is eyeing operating resorts in 10-15 holiday locations with a revenue potential of over Rs 50 crore. It will be providing direct employment to over 400 employees across locations.

The Indian hospitality sector made a stellar recovery in 2022. The primary growth engine for the industry was domestic tourism. After being confined to their homes for the last couple of years, people are eager to travel, and the leisure segment is thriving.

“Through Defellows, we will be looking at capturing a significant chunk of this booming business,” said Kushwaha.

The first Deefellows resort in Jim Corbett is situated on the banks of river Kosi.