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Eco Hotels is an asset-light company that focuses on the lease model
Eco Hotels and Resorts Ltd looks to become profitable by the end of next fiscal and has acquired three properties with around 178 keys, according to a statement.
The hospitality company which aims to develop eco-friendly properties with zero carbon footprint is also on course to hit 400-room capacity by month-end, the statement said.
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Eco Hotels & Resorts CFO Vikram Doshi said, We are committed to turn the company into profit by end of March 2026. We want to turn this company soon into one of the leading hotel companies of India.
In its very first year of operation in India, Eco Hotels is setting new standards in sustainable hospitality, the official said.
Eco Hotels has also announced the acquisition of three properties. These include a 90-room property in Mysore (Karnataka) a 44-room hotel at Tirupati (Andhra Pradesh), and another 44-room asset in Nagpur (Maharashtra).
The company board recently approved the acquisition of these properties on a long-term lease basis.
Moreover, the company is in the process of finalising deals for hotel properties at Shirdi (60 rooms), Jodhpur (72 rooms), and Nagpur (37 rooms).
Eco Hotels is an asset-light company that focuses on the lease model.
Our present hotel capacity will cross 400 rooms by October end, and due diligence is on for a few properties across cities, the company said, which wants to become a pan-India player.
We would like to be a pan-India player. In that pursuit we have already have our property in the state of Rajasthan, Kerala, Maharashtra, Gujarat, Karnataka and Andhra Pradesh, the company said.
Eco Hotels and Resorts Ltd plans to have around 5000 hotel rooms in the coming five years.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 06 2024 | 2:45 PM IST
