Kolkata’s Jain Group to invest INR 500 crore in hospitality business, join hands with Sarovar Group for expansion


According to TOI, the Jain Group, a prominent real estate developer based in Kolkata, is charting a significant expansion in the hospitality sector with plans to invest INR 500 crore by 2030. In a strategic move, the group has partnered with Sarovar Hotels Pvt Ltd to inaugurate a new hotel in Rajarhat within the next four months. Under the agreement, the Jain Group has allocated approximately INR 120 crore towards the project, with the management of the forthcoming establishment entrusted to Sarovar Hotels.

The collaboration was solidified on Thursday with the signing of a memorandum of understanding (MoU) between the Jain Group and Sarovar Hotels for the Sarovar Portico Kolkata Rajarhat project. According to Rishi Jain, Managing Director of the Jain Group, the doors of the new hotel are slated to open this July, boasting a total of 128 rooms spanning four categories: suites, premium, deluxe, and standard.

The Jain Group has already made its mark in the hospitality sector with Holiday Inn, Kolkata airport under its portfolio. Shrayans Jain, Vice-Chairman of the group, outlined their ambitious Vision 2030, aiming to establish 1,000 hotel rooms across West Bengal, ranging from upscale mid-market to luxury accommodations. Additionally, the company has plans to introduce three more hotels in Siliguri, Durgapur, and Joka as part of its expansion strategy.

Source : TOI

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