Latest news with #RandhirNarayan
Time of India
5 days ago
- Business
- Time of India
LaRiSa Hotels Plans Domestic and Regional Expansion with Innovative Hospitality Models, ET HospitalityWorld
Advt Advt By , ETHospitalityWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHospitalityWorld industry right on your smartphone! Download the ETHospitalityWorld App and get the Realtime updates and Save your favourite articles. 'We feel that we have reached the scale and level to look not only at domestic expansion, but parallely regional international expansion,' said Randhir Narayan director of LaRiSa Hotels , counting on the portfolio the merged entity of LaRiSa Hotels and amHotel Kollection currently operates in India—32 hotels open with six to seven in the pipeline adding up to over 1,000 rooms.'We are now a Rs 110 crore turnover company and it could easily climb up to Rs 125 crore as some of our properties are still new into the market and stabilising,' he a seasoned hotelier with over three decades of experience in hotel operations, sales and investment, said that they are currently working on a 50 hotel landmark. Once that landmark is achieved, they would consider 'crossing the borders' of India. He informed that the potential destinations initially are the regional destinations of Sri Lanka, Thailand, etc. which are well connected with India and short-haul destinations.'If someone is spending Rs 10,000 in Goa, they'll spend the same in Thailand. The base is the same. These direct flight destinations are of interest to us. We are exploring collaborative hospitality models there,' he the 'collaborative hospitality' model, Narayan said, 'We may not have the capital to build hotels overseas just yet, but we can certainly collaborate. If a group in Thailand sells our properties, and we sell theirs, it's a win-win. We also take pride in our food and hospitality and could introduce high-quality Indian cuisine in those markets.'In a strategic shift, Narayan decided to merge his asset-light hotel management venture, amHotel Kollection, with the asset-owning LaRiSa Hotels to form a more robust hospitality platform.'When you have a few assets of your own, it is easy to build an asset light model over it,' he said, citing big operators of hotels who started initially as asset owners and then switched to asset management.'LaRiSa Hotels owned a few hotels and also had a few leased assets,' he said that the idea is to have a good mix of owned, JVs, leased and managed assets in the portfolio, and the target is non-branded, owner operated independent hotels. The merged LaRiSa Hotels has two brands of LaRiSa - LaRiSa Resorts, an upscale resort brand; 8fold by LaRiSa, a mid-scale brand; and amHotel Kollection's amKollection.'We have a very strong leisure focus,' Narayan said, talking about the portfolio currently. However, they also have city hotels in Jaipur, Aurangabad, Meerut, Gurugram, global uncertainties, Narayan is confident about the trajectory of the merged entity and its ability to scale meaningfully. An IPO may also be considered in the future to fuel growth and formalize capital structure, he said.
Yahoo
01-04-2025
- Business
- Yahoo
LaRiSa Hotels & Resorts introduces mid-market hospitality brand 8fold in India
LaRiSa Hotels & Resorts has introduced its new 8fold brand in the mid-market hospitality segment in India. The brand aims to serve upper-middle-class travellers, and features boutique-style hotels priced between Rs4,000 and Rs9,000 ($46.76 and $105.20) per night. LaRiSa Hotels and Resorts founder and CEO Priya Thakur said: '8fold by LaRiSa is not just about boutique stays—it's about reimagining hospitality through a lens of mindfulness, integrity, and guest-first service." The company currently operates 32 properties across India and abroad. The first three properties launched under this brand comprise 8fold by LaRiSa Shimla, 8fold by LaRiSa Jibhi, and 8fold Pinecrest by LaRiSa Bhimtal, all located in India. A fourth hotel, 8fold by LaRiSa Siolim in Goa, will open shortly. It will offer 15 guest rooms and is located near Goa's beaches. With a vision to grow to 50 hotels by the end of this year, 8fold aims to offer a contemporary experience, focusing on eco-conscious stays. The new brand is also seeking hotel owners to join its managed portfolio. LaRiSa Hotels and Resorts director Randhir Narayan said: 'As for owners who would like to partner with us, our comprehensive support with facility planning, operations, sales, marketing and technology will assist them in creating a standardised product and also benefit them as they will be part of a brand that is managed and marketed under an organised sector." This launch follows an announcement last month of a merger between LaRiSa Hotels & Resorts and AM Hotel Kollection, "LaRiSa Hotels & Resorts introduces mid-market hospitality brand 8fold in India" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
