Hospitality division of the Rs 10,000-crore diversified business conglomerate Jaypee Group has chalked out plans to expand the number of hotels under its ambit. Over the next three years, the company would develop new hotels on its existing land parcels along with other real estate constructions.
"We plan to increase the hotel rooms by around 70% over the next three years," Manju Sharma, director Jaypee Hotels told HT. Sharma added that, at present the company owns and operates 900 hotel rooms in over seven hotels across North India.
"The domestic tourism is on a rise and there is a severe shortage of hotel rooms, especially in the 4-star category. Our plan is to initially develop hotel properties in the land parcels already owned by the company, such as those around the Yamuna Expressway connecting Greater Noida with Agra," she said.
Sharma refused to divulge further details on the exact locations of the hotel properties planned. "We definitely aspire to have a pan-India presence but for now we wish to develop hotels on our own land." She ruled out any plans to acquire any hotel chain in the country.
Jaypee Hotels owns and operates 5-star and 4-star hotels across Delhi, Noida, Greater Noida, Agra and Mussoorie, among others. It recently developed a 5-star hotel Jaypee Greens Golf and Spa Resort at Greater Noida at an estimated investment of Rs 500 crore. The group owns and operates its hotel properties and has no plans to tie up with any international hotel brand for the management of its hotels.
India currently has around 1,00,000 hotel rooms in all categories, which is less than the hotel rooms present in Dubai, Bangkok and Las Vegas.