Hyderabad-based Averest Hotels & Resorts plans 20 properties in three years
First property from the group to come up in Hyderabad by January 2021
Hyderabad: Hyderabad-based Averest Hotels and Resorts India announced its formal launch in the Indian market and plans to establish 20 properties across India, Middle East and Europe. Of the 20 properties, the first property will commence operations in Hyderabad next month.
Averest Hotels also plans to open properties in Andhra Pradesh, Karnataka, Uttarakhand, and Goa in the next six months. The group also has plans to foray into the premium luxury segment by 2024. The company did not disclose the investments that will go into its properties.
In Hyderabad, the company will open a mid-segment hotel located strategically at Gachibowli to target both corporate and leisure travellers with its pocket-friendly luxury offerings. Pan-India, the company sees opportunities in management contracts, franchise agreements and joint ventures.
Commenting on the launch, P K Anantha Sharma, co-founder and VP, Averest Hotels and Resorts India, said, the year 2020 was a year of extraordinary circumstances and the hospitality industry was one of the worst affected. But 2021 is bringing a lot of hope and energy.
N Rajendra Prasad, founder and MD, Averest Hotels and Resorts India, said, “Averest group aims to deliver an all-round enriching guest experience with its holistic approach towards hotel management. With an able team of experts from the hospitality industry, the group will soon have its footprint in multiple States in India and will also make an international debut with one property in Gulf or European region.”
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