Leisure Hotels Group, which is home to 23 operational properties in its portfolio including the Taj Corbett Resort & Spa and Pilibhit House in Haridwar in partnership with IHCL alongside its own brands, is aiming to expand to 100 properties by 2030, as disclosed by Vibhas Prasad, the director of Leisure Hotels Group.
The company, which possesses and operates establishments and ventures like Aloha on the Ganges in Rishikesh, The Riverview Retreat in Corbett National Park, The Earl’s Court in Nainital, and The Manor properties in Bareilly and Kashipur, is contemplating expansion into various markets. These include Udaipur, Jodhpur, Chittorgarh, Kanha, Khajuraho, Vizag, Pondicherry, Kanyakumari, Thekkady, and Kodaikanal.
Prasad emphasized that the chain’s primary expansion focus lies on Madhya Pradesh and Rajasthan. Additionally, there are plans to convert current properties like Naini Retreat and The Hideaway Waterfront in Naukuchiatal into IHCL SeleQtions properties.
Over the next two years, the company plans to recruit 1000 individuals, supplementing its existing workforce of 1200. Expansion for the chain will be financed through a combination of debt and internal accruals. Prasad stated that the chain will employ a mixed strategy for expansion, noting that the current pipeline appears strong.
“Our plan by 2030 is to have 100 properties. We are working with IHCL in the luxury space and we have boutique concepts under our own brands. We have also created a concept called Bedzzz for young at heart customers who are willing to come and stay at a INR 5,000 a night kind of a property, but they want modern amenities and a social vibe,” said Prasad.
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“Bedzzz has an interesting concept from a return-on-investment perspective. We could do a greenfield project, buy land, build a property, we could do a brownfield acquisition through a lease. Or we could have a franchised operation. In our portfolio, we also have holiday homes in locations such as Corbett, Rishikesh, wherein some investors or leisure seekers have apartments or villas which they lease back to us, and we operate that entire estate asset as a resort. They get some returns, maintenance is taken care of, and they have room nights. This is also a space that we are expanding,” he added.
This month, the company is set to introduce Bedzzz Xclusiv in Morjim, Goa, alongside upcoming launches of Bedzzz properties in destinations like Ayodhya, Nainital, and Shimla, expected by the end of the upcoming financial year. Additionally, Leisure Hotels Group possesses the 72-room Ginger hotel in Greater Noida, as well as a Mahindra Corbett property.
Prasad mentioned that since its establishment 30 years ago, the chain has maintained a focus on domestic travelers. Its portfolio has consistently catered to the leisure segment in Uttarakhand.
“We realised that Himachal Pradesh also has some synergies. We have also looked at boutique resorts and the accessibility from Delhi NCR, Western UP and Punjab to other weekend destinations,” he added.
He mentioned that the portfolio operates through various legal entities, sometimes partnering for assets as well.
“But, the assets give the management right back to our parent company so when we don’t have capital, we look at a new special purpose vehicle. That’s been the route to our growth so far,” he added. The chain has played a key role over the years in bringing destinations such as Rishikesh, Corbett, Nainital, and Haridwar to the forefront in the domestic traveller market, said Prasad. “We also operated the Char Dham Camps in Badrinath, Kedarnath, Gangotri, and Yamunotri for about twenty years- from 2001, till the Covid-19 pandemic struck. We will also come back in a new avatar in this market and will do this differently in future,” he added.
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