HBI Staff | Hyderabad 
Kolkata-based Jain Group, which plans to invest INR 500 crore in the hospitality sector by 2030, is open to inorganic growth as the segment contributes nearly 50% of its annual revenue. The group further bolstered its hospitality footprint with the launch of the Sarovar Portico Kolkata, a 128-key mid-market hotel in Rajarhat, marking Sarovar’s re-entry into the Kolkata market after five years.
Sarovar Hotels, part of the French Louvre Hotels Group, operates 135 hotels across India under management contracts. Sarovar’s return to Kolkata comes through its partnership with Jain Group, following the conclusion of its earlier management contract with Peerless Hotels in 2018. Although Sarovar’s Golden Tulip brand operates a property in the city, the newly launched Sarovar Portico is currently its only branded property under the Sarovar umbrella in Kolkata.
“This is our second operational hotel in the city under the Sarovar brand and operational contract. Our first property, located in New Town, operates under the Holiday Inn brand,” said Rishi Jain, Managing Director of Jain Group.
Jain also shared the group’s plans to further expand in the region, with a 95-key hotel in Kolkata set to open in the next three months and two additional Holiday Inn hotels planned for Durgapur and Siliguri.
He highlighted the group’s growth strategy, noting, “We are open to acquisitions and inorganic growth opportunities. Hospitality remains a key focus, contributing significantly to our revenues and profits.”
### Aiming for Scale and Strategic Expansion
The Jain Group, which is debt-free, is targeting combined growth for its real estate and hospitality businesses at a **CAGR of 30%**, aiming to achieve a revenue milestone of ₹1,000 crore. “Once we reach this scale, we will explore the capital markets. Public equity is a low-risk but high-cost funding option compared to debt,” Rishi Jain explained.
Vice-Chairman Shrayans Jain added that the group’s vision includes building a 1,000-key hotel portfolio by 2030, nearly tripling its current capacity.
Ajay K. Bakaya, Chairman of Sarovar Hotels, expressed enthusiasm for expanding in eastern India, including partnerships with regional players like the Jain Group. “We aim to grow our portfolio to 150 hotels by 2025, with a focus on key assets in the region,” he said.
With strategic collaborations and robust growth plans, both Jain Group and Sarovar Hotels are set to play pivotal roles in shaping the hospitality landscape in eastern India.
Source: Business Standard
