The Byke Hospitality Ltd is planning to open new hotels in cities like Thane, Puri and Shimla this year and is looking to add 400-450 room inventory over the next two years.
The company also plans to significantly expand its hotel leasing business, where it acquires properties on lease and renovates them to manage and operate under its own brand 'The Byke', a statement issued here said.
"We will throw open three hotels in Thane with 122 rooms, Puri with 54 rooms and Shimla with 20 rooms taking the total room inventory for Byke to 697 rooms during the current financial year," Byke Hospitality MD Anil Patodia said.
"We are also planning to add room inventory at tourist destinations such as Lonavala, Mahableshwar, Jodhpur, Udaipur, Darjeeling, Gangtok, Chandigarh and other tourist destinations by the 2016-17 fiscal," he added.
"Opting for the asset-light model, the company has strategically decided to expand its foot print on a lease basis and renovating the same to operate under the Byke brand, without making heavy investments," Patodia said.
The BSE-listed Byke Hospitality Ltd currently operates seven properties with three in Goa, two in Matheran and one each in Jaipur and Manali.
"The company expects the three new properties to achieve average room occupancy of 50 percent in the first year itself," Patodia said.
