 "Oyo parent Oravel Stays plans to launch 13 premium hotels this year")
Oravel Stays, the parent company of hospitality major Oyo, on Thursday announced plans to launch 13 premium hotels under the Palette brand by the end of this year.
Last year, the company started a pilot by setting up 10 Palette resorts in Jaipur, Hyderabad, Digha, Mumbai, Chennai, Manesar, and Bengaluru.
This will bring the total number of hotels under the Palette brand to 23.
The Palette hotels will operate on a similar “self-operated” model as Oyo’s hotels. The move will, therefore, not prove very capital-intensive for the company. This will be the restarting of the self-operated model by the company which was discontinued in 2020.
To ensure enhanced guest experience and service delivery, the company will take direct operational control of select Palette hotels in high-growth and promising locations, the firm said.
Oravel Stays said that Morbi, known as India’s ceramic capital, is a key economic hub in Gujarat.
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The district is home to over 800 tile factories, accounting for 90 per cent of India's tile production, with an annual turnover of about Rs 50,000 crore.
“We are excited to launch our first self-operated Palette hotel in Gujarat, and what better city to start with than Morbi. With its booming economic scene and growing business opportunities, Morbi is an important market for us,” said Aditya Sharma, Business Head, Oravel Stays.
A 425-hectare ceramics park is expected to be operational in the district in the next six months, which has led to an increase in business travel to the region. The company is looking to capitalise on the increased tourist footfalls in the region.
The Morbi hotel “features 48 spacious rooms and amenities such as conference room and common spaces, a swimming pool, restaurant, and 24x7 free WiFi,” the company said.
Oyo recently relaunched self-operated hotels under the ‘Prime Partner Program’ more than two years after it halted the service.
As part of the programme, Oyo will secure annual, long-term management contracts on the revenue share basis of 200 premium hotels across Indian metros, Business Standard had reported earlier.
The Softbank-backed firm closed its self-operated hotel model in 2020 just before the start of the first wave of Covid-19 and is restarting it after three years.
More Room For Growth
- Oravel Stays started a pilot project by setting up 10 Palette resorts last year- Move to bring the total number of hotels under the Palette brand to 23- The Palette hotels will operate on the similar ‘self-operated’ model as Oyo’s hotels- This will restart the self-operated model by the company which was discontinued in 2020