IBEF: December 03, 2019
Amatra Hotels and Resorts is planning to expand its business in Indian properties by increasing the number of rooms to 250 by the end of this financial year, a top official said.
At present, the company has 81 rooms across two properties which include Amatra by the Ganges (Haridwar) and Amatra Dunsvirk Court (Mussoorie).
"Amatra Hotels India is a wholly-owned subsidiary of Amatra Group Holdings SDN BHD, Malaysia. It has committed US$ 15 million towards acquisition and development of brand Amatra across various countries over the next two years including India and other prominent Asian countries," said Mr Sabry Salahudeen, Chief Growth Officer, Global, Amatra Hotels and Resorts.
The funds are expected to flow in multiple tranches and around US$ 1 million is by now given to Indian entity, added Mr Salahudeen.
In India, the hotel works on the asset light model and has room tariff starting from Rs 7,000 (US$ 100.15) per day going up to Rs 15,000 (US$ 214.6).
"In India, the company was founded in 2019 and aside from these two properties, we will come up with another property by the end of this fiscal. However, the location cannot be revealed right now," said Ms Preety Arora, Head, Business Strategy, Amatra Hotels and Resorts.
The company will be aiming on locations like Rajasthan, Himachal Pradesh, and Goa along with safari destinations.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.