The Delhi NCR-based group is focussed on working as a zero-debt organisation

Atharva Hotel Superfluities India Private Limited marked as Atharva Hotels & Resorts group has embarked on an ambitious plan to put into operation more than 5,000 hotel rooms under their management (operational and under development). Taking their first step in that direction, Atharva Hotels & Resorts recently announced its first hotel in association with IHG under their VOCO Hotels banner in Gurugram. 

The Delhi NCR-based group is focussed on working as a zero-debt organisation. Keeping that in mind, they are focused on following the model of being asset light and having long lease understandings with reputed builders.

Having already signed up management contract of 5,215 rooms, the group has put together a comprehensive plan in place that will be a win-win for all the stakeholders involved, including the travelers. On the development front, the shell work and facilities has been completed for most of the properties and only interiors and soft furnishing is pending.

“Atharva has entered into a formal understanding for operation of 2,585 rooms with Omaxe Builders. Under their agreement, Atharva will operate 540 rooms in Lucknow, 984 rooms in Greater Noida and three properties in New Chandigarh (the medical city) totalling 1,061 rooms,” informed Prawal Choudhary- Chairman, Atharva Hotels & Resorts.

The group will have 2,025 hotel rooms operational in Gurugram. “We have chosen to partner with very reputed builders, as we are very quality conscious, and want to create the best experience for our well-traveled guests. Out of the 2,025 rooms in Gurgaon, more than 900 are with M3M, and the rest with other leading builders. Our first openings would be a 204-room VOCO hotel with IHG and a 130-unit studio apartment hotel, both in Gurugram in the last quarter of 2023,” he added.

Talking about their association and the plan of action, Deepak Jha - MD, Atharva Hotels & Resorts said, "Our endeavour is to create a debt-free asset management company that delivers the best for their customers and partners. Our unique offering and top of the line service arrangement is going to revolutionise the way in which hotel brands, property owners and management companies engaged."

"The noteworthy differentiator of the Atharva Asset Management model is the commitment of minimum guarantee to the ownership, which no other Asset Management Company or any leading brand provides. We also work on a lease rental model with hotel owners. This, along with the complete set of services offered makes us the preferred choice in the market," added Jha.

Atharva will also be a part of the financial management and would organise and govern all the financial activities of these hotels, and cover the full spectrum of property planning and management, that would also include space requirements, facilities for guests, food and beverage concepts and requirements, protection measures for guests, setting operational standards and sustainability measures. Aesthetic aspects like fixtures and finishes and guidelines for architects, interior designers and other consultants would also fall under the purview of Atharva.