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ESPIRE HOSPITALITY TO INVEST RS 560 CRORE IN EXPANSION
The Business Guardian
|October 01, 2023
Espire Hospitality Group, a major player in the hospitality sector, has set ambitious targets for 2024-25: 20 operational properties under its renowned brands Zana, Country Inn Express, and Country Inn Premier. This comes with a planned capital expenditure (capex) of Rs 560 crore, as disclosed by Akhil Arora, CEO of Espire Hospitality.
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The group presently boasts 10 hotels, with a key count of 780 under their luxury boutique resort brand, 'ZANA - a Luxury Escapes' and the 4-star Country Inn Hotels and Resorts'. By the end of this fiscal year, they intend to augment their key count by 200, taking the total to 980 across 13 hotels.
Arora detailed how the capital will be allocated. "The capex, sourced from in-house funding, will be judiciously used for various purposes - from renovating and upgrading our existing properties to leasing new ones."
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