Sarovar Hotels Makes Its Mark in Pilibhit, UP, Elevating Local Hospitality
Sarovar Hotels & Resorts, with 136 operational hotels across India, is set to strategically expand by adding 16-20 new properties this year, targeting double-digit growth. As the hospitality sector in India enters a robust growth phase, Sarovar is focusing on premium business hubs, leisure spots, and the burgeoning spiritual tourism market. The company, which includes 75 hotels under its flagship Sarovar Portico brand, is also exploring international opportunities while maintaining its profitability, which has remained steady even during the pandemic. Sarovar has experienced a compound annual growth rate (CAGR) of approximately 15% since before the pandemic, with its hotels and corporate hospitality services generating ₹3,000 crore in 2024.
Ajay K. Bakaya, chairman of Sarovar Hotels and Resorts and director of Louvre Hotels India, emphasized the importance of being selective in partnerships, stating, “There are many opportunities to sign brands, but we want to be more discerning about the types of hotels we collaborate with.” Bakaya shared insights during an exclusive interview at the recent HVS Anarock Hope 2025 hospitality and travel summit in Goa.
Looking ahead to 2025, Sarovar aims to sustain its double-digit growth trajectory. The company manages properties across 3-, 4-, and 5-star categories under its four brands: Sarovar Premiere, Portico, Golden Tulip, and the 3-star Hometel. In 2024, Sarovar recorded a 12% CAGR, with a 9% increase on a same-store basis, which measures revenue growth from existing locations. Revenue has risen by 15% compared to pre-pandemic levels, fueled by increasing demand in key markets. Last year, Sarovar’s hotels in India generated over ₹2,000 crore in revenue, with ₹1,000 crore coming from its institutional catering services, which cater to major clients such as IIMs, ISB campuses, and Hindustan Unilever complexes.
Bakaya noted, “Demand is quite strong, and for the first time, Indian hotel companies are charging rates that reflect the quality of their offerings, particularly in metro cities and major travel hubs.
