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The hotel operator, which took private equity funds in 2007, has an existing portfolio of 27 hotels and plans to add another 22 hotels. Amidst a demand-supply gap in India’s hotel industry, the company intends to double its room capacity by 2028. Notably, Bengaluru alone boasts over 50,000 rooms.
The firm’s record revenue of ₹524 crore ($70 million) in FY23 was fueled by several factors including the G20 Summit, Cricket World Cup, a surge in domestic arrivals by 20%, and the upcoming wedding season. Full recovery of international travel is anticipated by the first half of next year.
The food and beverage (F&B) segment is a significant contributor to Park Hotels’ business, accounting for 39% of revenue in FY23 and projected to make up 44% in FY24. The F&B sector in India is currently worth ₹4.3 lakh crore ($57 billion) and is expected to reach ₹7.5 lakh crore ($100 billion) in five years.
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