 "hotel")
Eco Hotels and Resorts is targeting more than 2,000 hotel rooms under its operations by March 2025.
Earlier this month, the company inked an initial pact with Vitizen Hotels Ltd (VHL) to acquire a 100 per cent stake of VITS in the VHL.
With this acquisition, Eco Hotels and Resorts will operate 20 hotels with around 1,200 rooms. At present, Eco Hotels and Resorts does not have any hotel rooms under its operations.
Speaking with PTI, Vinod K Tripathi, Executive Chairman of Eco Hotels and Resorts said, "This breakthrough moment marked by the signing of this momentous MOU and its reflection on our team's dedication to reach ambitious goals through clever decision-making."
He explained that with this acquisition, Eco Hotels and Resorts will operate 20 hotels with around 1200 rooms, representing a significant step toward their ambitious goal of acquiring over 2000-plus hotel rooms by March 2025.
He informed that that the Eco Hotels and Resorts aims to operate 5,000 hotel rooms in India over the next five years and scale it up to 15,000 hotel rooms within the next 15 years.
The company has successfully developed two brands operating in Kerala, India, and identified prime properties in the Western Region, including Mumbai, Goa, and Pune, for immediate capital deployment and expansion of the operating inventory.
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Eco Hotels and Resorts Ltd, formerly known as Sharad Fibres and Yarn Processors Ltd intends to reshape the landscape of premium and economy hotel brands.
Eco Hotels and Resorts envisions creating an extensive network of sustainable and luxurious hotels under the esteemed brand name 'The Eco'.
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