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By Manu Vardhan Kannan
Published on May 30, 2026
Apeejay Surrendra Park Hotels Limited (ASPHL) has announced its financial results for the fourth quarter and financial year ended March 31, 2026, reporting steady operational growth supported by strong occupancy levels and continued expansion across key hospitality markets.
The company reported revenue from operations of INR 183.70 crore for Q4 FY26, compared to INR 177.32 crore during the same quarter last year. Operating EBITDA for the quarter stood at INR 52.99 crore, while profit after tax (PAT) was reported at INR 11.88 crore.
ASPHL recorded occupancy levels of 90 per cent during the quarter, reflecting sustained demand across both business and leisure travel segments and reinforcing the company’s position within India’s hospitality sector.
For the full financial year FY26, the company crossed the INR 700 crore annual revenue milestone for the first time, reporting revenue from operations of INR 707.28 crore. Annual PAT for the year stood at INR 65.72 crore.
The company stated that growth during FY26 was supported by expansion into Tier II and Tier III cities along with strategic acquisitions aimed at strengthening its presence in high-potential hospitality destinations.
During the financial year, ASPHL acquired control of Zillion Hotels and Resorts Private Limited, Fisherman’s Grove Resorts Private Limited, and Thali Hotels and Destinations Private Limited. These acquisitions are expected to further strengthen the company’s hospitality presence across Mumbai and Kerala.
ASPHL also reaffirmed its long-term growth plans and said it remains on track to more than double its room inventory to 6,653 keys over the next five years.
The company’s bakery and confectionery brand, Flurys, also continued its expansion during FY26. The brand currently operates 110 outlets and recorded a 29 per cent year-on-year revenue growth during the financial year, supported by new store additions and strong performance across existing outlets.
Commenting on the results, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said FY26 marked a significant milestone as the company crossed INR 700 crore in annual revenue for the first time. He added that Q4 reflected resilient operational performance with continued leadership in occupancy and RevPAR metrics.
Dewan further noted that the sale of serviced apartments at EM Bypass, Kolkata, contributed positively to cash flow during the year. He added that the company remains focused on long-term value creation through portfolio expansion, guest-centric experiences, operational efficiency, and margin improvement.
The company also highlighted that recent global recognition received by Ran Baas The Palace, Patiala and The Lotus Palace, Chettinad further strengthens its positioning as a design-led and experience-driven hospitality group.
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Published on October 18, 2026
Sterling Holiday Resorts Limited (SHRL) has opened Sterling Leopard Haven Jawai in Rajasthan, strengthening its presence in the state and expanding its wilderness portfolio. Located near Bera, amid Jawai's distinctive granite terrain, the resort offers travellers a base to explore a wildlife landscape known for its leopards, rocky outcrops and natural caves.
Beyond leopard sightings, Jawai offers experiences shaped by the Jawai Dam reservoir, its rich birdlife, surrounding countryside, tribal villages and Rabari communities. Regional culinary traditions further add to the destination's appeal, encouraging travellers to explore the area's natural and cultural character beyond a single safari.
Commenting on the opening, Vikram Lalvani, Managing Director and CEO, Sterling Holiday Resorts Limited, said, “Jawai is compelling because the reason you arrive and the reason you remember the holiday can be very different. A leopard may create the first pull, but the real richness comes from everything that surrounds that experience.
“For Sterling, this is exactly the kind of destination that strengthens the portfolio in more than one way. It deepens our presence in Rajasthan, adds further weight to our national wilderness offering and also creates a natural link in a Mount Abu–Udaipur–Jawai–Jodhpur journey. Our growth is increasingly about building more around why people travel, creating richer reasons to stay, explore and discover more of India.”
Sterling Leopard Haven Jawai features 19 cottages, suites and villas designed to offer an intimate retreat. Jawai Villas come with private balconies and bathtubs, while Pool Villas feature plunge pools and secluded outdoor spaces. The Two-Bedroom Pool Villa combines adjoining villas, allowing groups to stay together while retaining privacy.
The property also features an infinity pool, a children's play area and outdoor spaces for relaxation between excursions.
Dining is another part of the resort's connection with the destination. At Jawai Vista, guests can explore Rajasthani-inspired flavours featuring regional millets and rice, alongside dishes such as Methi Bajra Khichda, Panchkutte ki Subzi, Mathania Chicken and Jawai Laal Maas. Chef-curated specialities complement the menu, with views across the valley and pool adding to the dining experience.
Depending on conditions, guests can also enjoy outdoor breakfasts, safari picnics and locally inspired meals that bring the culinary experience beyond the restaurant.
The resort offers guided leopard safaris, excursions around Jawai Dam, birdwatching and crocodile spotting, alongside opportunities to explore the surrounding countryside and local communities. These experiences allow travellers to discover more of Jawai's wildlife, landscape and everyday life while enjoying a slower-paced holiday.
Located between Udaipur and Jodhpur, Jawai offers a different experience within Rajasthan's established travel circuit, which is often associated with forts, palaces and heritage cities. The destination adds a wilderness element to journeys connecting Mount Abu, Udaipur, Jawai and Jodhpur.
Speaking on the launch, Manish Gurani, owner of BMMR Hospitality LLP, said, “What drew us to Jawai was its rarity, a place where wildlife, open landscapes and everyday life exist side by side without the destination feeling over-engineered for tourism. We wanted the resort to preserve that sense of space and discovery while giving travellers the comfort to stay longer and see more of the region. Sterling was the right partner because it understands how to build demand around destinations, not just properties, and has the reach to introduce Jawai to a much wider leisure audience.”
The opening reflects Sterling Holiday Resorts' broader expansion strategy of building its portfolio around distinctive travel experiences. Rather than focusing only on individual hotel locations, the company aims to create hospitality offerings around travellers' interests, including wildlife, nature, spirituality, culture, wellness and discovery.
With Sterling Leopard Haven Jawai, the company strengthens its Rajasthan presence while adding another destination to its wilderness offering. The resort also supports Sterling's approach of developing connected travel circuits, creating more opportunities for guests to explore multiple destinations within a single journey.
By Hariharan U
Published on October 17, 2026
ITC Hotels Limited has signed a management agreement for Mementos by ITC Hotels Karjat, a planned 227-key luxury resort in Maharashtra, strengthening its presence in leisure destinations around Mumbai and Pune.
Located against the backdrop of the Sahyadri foothills, the proposed resort will cater to travellers seeking nature-led holidays, wellness experiences, destination weddings and corporate retreats. Karjat's scenic setting and connectivity to Mumbai and Pune have contributed to its emergence as a leisure and events destination in western India.
The signing forms part of ITC Hotels' strategy to expand its portfolio in destinations with potential for leisure travel, celebrations and experience-led hospitality.
Mementos by ITC Hotels Karjat will comprise 227 rooms and suites designed to reflect the character and tranquillity of the destination. The property is planned as a luxury retreat combining accommodation, dining, wellness and recreational experiences.
Its food and beverage offering will include an all-day dining restaurant, specialty restaurants, a bar and a tea lounge. The resort is also expected to feature destination-inspired culinary experiences showcasing regional and international cuisines.
Wellness and recreation facilities will include a signature spa, fitness centre, swimming pools and a range of recreational activities, positioning the property to serve both short leisure stays and longer wellness-focused visits.
A major component of the development will be its event infrastructure. The resort is planned to offer over 60,000 sq. ft. of indoor event space, including a grand ballroom and versatile meeting venues, along with more than 30,000 sq. ft. of outdoor lawns for social gatherings.
These facilities are expected to support destination weddings, conferences, corporate retreats and other large-scale celebrations, adding to Karjat's appeal as an events destination within reach of Mumbai and Pune.
Commenting on the signing, Anil Chadha, Managing Director, ITC Hotels Limited, said, “As India's leisure travel landscape continues to evolve, travellers are increasingly seeking meaningful escapes that blend nature, wellness and bespoke experiences. Karjat, with its picturesque setting, excellent connectivity and growing prominence as a hub for celebrations and retreats, is well-positioned to cater to this demand. The signing of Mementos Karjat reflects our commitment to expanding our portfolio in high-potential leisure destinations.”
Ashok Chhajer, Chairman and Managing Director, Arihant Super Structures Limited, added, “Karjat has long been admired for its natural beauty and serene surroundings, offering a refreshing contrast to the pace of urban life. Our group's vision is to create an iconic destination in Maharashtra that not only showcases the charm of the region but also becomes a preferred setting for memorable holidays, celebrations and transformative retreats. Working with ITC Hotels Limited for the Mementos brand brings together a shared commitment to excellence.”
Mementos by ITC Hotels is a collection of resorts across varied destinations, encompassing contemporary properties, secluded retreats and historic settings. The brand focuses on destination-led experiences, local culture, regional flavours and personalised hospitality.
The planned Karjat resort will add another leisure destination to the collection, combining its natural surroundings with facilities designed for relaxation, celebrations and business gatherings.
With the signing, ITC Hotels continues to expand its presence in India's leisure hospitality segment, targeting destinations that bring together accessibility, natural landscapes and demand for premium experiences.
Suba Hotels Ltd has strengthened its presence in Uttar Pradesh with the opening of Quality Inn Serenity in Lucknow. The property marks the company's seventh hotel in the city and its third under the Choice Hotels portfolio in Lucknow, adding to its existing presence through three Click Hotels and one RnB Select hotel.
The opening reflects the company's continued expansion across India's business, leisure and emerging tourism destinations, with Lucknow remaining an important market for corporate travel, medical tourism and leisure stays.
Located in Ashiyana, near Transport Nagar and Kanpur Road, Quality Inn Serenity offers access to key commercial establishments, healthcare facilities, shopping destinations and transport hubs. The hotel is approximately 6 km from Chaudhary Charan Singh International Airport and around 7 km from Lucknow Railway Station.
Quality Inn Serenity features 36 rooms, comprising 27 Executive Rooms, six Deluxe Rooms and three Premium Rooms. Each room includes amenities such as complimentary Wi-Fi, central air-conditioning, premium bedding, tea and coffee-making facilities, electronic safes and other guest conveniences.
The property also provides a 24-hour front desk, housekeeping, laundry, travel assistance, doctor-on-call services, parking and taxi arrangements. For dining, the hotel houses Cinnamon, a 50-cover multi-cuisine restaurant serving Indian and international dishes. Open from 7:00 a.m. to 10:30 p.m., the restaurant caters to both resident guests and visitors, while in-room dining offers additional convenience.
The hotel also features banquet and conference facilities for corporate meetings, training programmes, business gatherings and social events. With these facilities and its location, the property aims to serve corporate travellers, medical tourists, leisure guests, individual business travellers, travel trade partners and small groups.
Commenting on the opening, Mansur Mehta, Managing Director, Suba Hotels Ltd, said, “Lucknow continues to emerge as a significant hospitality market, supported by growing commercial activity, infrastructure development and increasing domestic travel. The opening of Quality Inn Serenity marks an important milestone as we expand our presence to seven hotels in the city.”
He added that the company sees opportunities across corporate travel, medical tourism, leisure, FITs and group segments. Its focus remains on providing comfortable accommodation, convenient facilities and personalised hospitality while strengthening relationships with guests and business partners.
Highlighting the company's growth strategy in Uttar Pradesh, Mubeen Mehta, Chief Executive Officer, Suba Hotels Ltd, said the state offers strong hospitality growth potential, supported by infrastructure development, business opportunities and religious and cultural tourism.
He noted that Lucknow serves as a regional business and travel hub, with connectivity to destinations such as Ayodhya and Varanasi. The company's continued expansion in the city reflects its confidence in the market's long-term potential, alongside its focus on strategic partnerships, consistent service standards and value creation for guests and hotel owners.
Surya Prakash Havelia, Managing Director, Jwaladevi Infratech Pvt. Ltd., expressed enthusiasm about the partnership with Suba Hotels Ltd and the property's entry into the Choice Hotels portfolio. He said the collaboration brings together a shared vision of quality accommodation, contemporary facilities and warm hospitality.
He also highlighted Suba Hotels' sales and distribution network, brand expertise and operational capabilities as important factors in establishing Quality Inn Serenity as a preferred accommodation choice in Lucknow. With its latest opening, Suba Hotels Ltd continues to expand its portfolio in Uttar Pradesh, positioning Quality Inn Serenity to cater to the city's evolving corporate, tourism and hospitality needs.
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