ASPHL sets its sight on major expansion plans for 2021
During this period of pandemic, the group has signed up new properties at Port Blair, Goa, Coimbatore, Ladakh and a heritage property ‘Qila Mubarak’ in Patiala. The development work of a 200-room property in Pune will re-commence in the next financial year.
With the onset of growth in economy and hospitality industry, Apeejay Surrendra Park Hotels Ltd (ASPHL) has shared its business revival story across its associated brands - THE Park Hotels, THE Park Collection, Zone by The Park and Flurys. Their business in Q3 for THE Park saw a major bounce back with occupancy levels of 66 per cent in October, 70 per cent in November and as on date occupancy has moved up to 87 per cent.
Commenting about the business growth and revival strategy, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels Ltd. said “Our business has picked up significantly over the last two months. As we analyse the current demand and consumption patterns from our guests, we are very hopeful that Q3 EBIDTA will be in positive ferocity. The significant growth in the domestic travel and pent-up demand together combined with ASPHL’s trademark Anything But Ordinary TM experiences will help us lead the market in occupancy and rev-par. Three of our hotels – New Delhi, Calcutta and Vizag have seen occupancies of above 90 per cent in the month of December alone which is a testament of our commitment and unparalleled services. While ARR’s continue to be under stress but are expected to inch upwards as travel demand further picks up. The entire team has worked round the clock to utilise this period of slowdown to significantly improve our efficiency levels and this would lead to long term margin improvement going forward.”
With business and leisure travel gaining momentum, ASPHL continues to stay bullish on its expansion plans. During this period of pandemic, the group has signed up new properties at Port Blair with 24 Keys, Goa with 49 keys, Coimbatore with 55 keys, Ladakh with 12 keys and a heritage property ‘Qila Mubarak’ in Patiala with 28 keys. The development work of a 200-room property in Pune will re-commence in the next financial year. The group also plans to add more outlets of its iconic tearoom Flurys by March 2021 and expand into rest of Bengal, Navi Mumbai and New Delhi in the upcoming year.
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