“It took us 25-26 years to double our room count and we are planning to do this in the next six to seven years now. We are in a zero debt position at a standalone level. Our cash position is strong and we are bullish on capex, with capex spends being at around ₹700-800 crore currently,” he said. “Despite adding 1200 rooms in the last three years, our occupancy would be at an all time high of 90% in this quarter. Post Covid, the desire to holiday is intense. Domestic travel has become even more attractive considering the airline fares to international destinations are very high,” he added.
“We are committed to take advantage of the tailwinds that are there in the leisure business. The branded leisure rooms in our country are only 28,000. If you were to compare that to Phuket and Bali, we are much smaller. Phuket would be about 40,000, while Bali would be above 60,000. We are so underserved and we believe there is a huge opportunity for us to increase the footprint in leisure hospitality,” said Singh.
