Sinclairs Hotels Ltd. has marked its first foray into North India with the acquisition of two new properties in Udaipur, Rajasthan: Sinclairs Palace Retreat Udaipur and Sinclairs Udaipur. Announced at the Board of Directors meeting on August 9th, 2024, this expansion signals a significant growth for the hotel chain.

Sinclairs Palace Retreat Udaipur is an expansive heritage-style property spread across 5 acres on Haldighati Road, approximately 35 kilometers from Udaipur. With 90 rooms and suites, 5 cottages, a 7000 sq ft ornate banquet hall, conference facilities, and several terraces for events, the property is well-equipped to host weddings, large conferences, and family holidays. The resort also features a multi-cuisine vegetarian restaurant, a bar, a swimming pool, and a children's park. Located near the renowned Shrinathji Temple, Nathdwara, and the historic Haldighati, Sinclairs Palace Retreat is poised to become a top destination for weddings and leisure.

Sinclairs Udaipur, situated in the bustling RK Circle area of Udaipur, offers 56 well-appointed rooms. The property includes a large banquet hall, a multi-cuisine restaurant, a bar, and ample parking space, making it ideal for corporate events, individual travelers (FITs), and wedding groups. Operations are expected to commence in October 2024.

The addition of these two properties increases the Sinclairs chain’s total number of keys to 598, representing a 33% growth in its portfolio. This expansion is anticipated to significantly boost the company's revenues and profits in the coming years.

Future Expansion Plans:

Sinclairs has ambitious plans to further strengthen its presence in the region. The company aims to create a cluster of 5 to 6 properties in Rajasthan, with a target of increasing the total key count to 1000 over the next three years. Additionally, Sinclairs is exploring opportunities to develop greenfield projects to expand its portfolio further.

Financial Performance:

The company also announced its unaudited financial results for the quarter ended June 30th, 2024. Sinclairs Hotels Ltd. reported a Total Income of Rs 1943.15 lakh, compared to Rs 2183.03 lakh in the corresponding period last year. The EBIDTA for the quarter stood at Rs 1032.23 lakh (compared to Rs 1287.07 lakh), and the Profit after Tax was Rs 684.81 lakh, down from Rs 847.63 lakh in the previous year's corresponding quarter. The decline in revenues and profits was attributed to a decrease in tourist and corporate travel due to extended election dates and severe landslides in Sikkim and West Bengal, which led to prolonged road closures.