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Sarovar Hotels is weighing the option of investing overseas for the first time. So far, it has been mulling plans to go in only for management contracts, especially in the Gulf region, through which all three company-owned brands - the five-star Premier, three-star Portico and budget category Hometel would be traveling abroad. The company said it may look at investing funds with a local partner in properties abroad. Countries closer home would be on the company’s radar, keeping its current management bandwidth in mind. “It is a question of management spread. Because of our high pace of expansion in the country, our management has got committed to domestic projects. There is a shortage of experienced manpower in the hotel industry. And if we consider properties too far off, the management will be stretched further,” Anil Madhok, managing director, Sarovar Hotels, told DNA Money. The company is in the process of setting up 23 new domestic projects, investment for which would be Rs 500 crore. Its own commitment will come to Rs 150 crore and a part of these projects would be company-owned. About five of these projects would be high-end four-star Park Plazas, two will be three-star full-service Park Inns, four Sarovar Premiers, 3-4 Porticos and the rest would be Hometels. Sarovar is now exploring management contract offers from the Gulf, Tanzania and Kenya. The company already manages a hotel in east Africa. “Though we will be looking to own properties in the Gulf, the larger part of our portfolio will be management contracts,” Ajay Bakaya, executive director, Sarovar Hotels, said. The company is affiliated to Carlson Hospitality Worldwide. This association makes Sarovar the master franchisee for the Park Plaza and Park Inn hotel brands in the country. source: DNA India | Daily Extras! Eclat Me | Success Tip of the Day| 1DailyDiversion| Eclat Web - Must Visit Websites! A Beautiful Pic Every Day! Word of the Day| Quotation of the Day| Make Money! Immigration News! Desire- WOW Stuff! Stock Mkt Updates |
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