Sterling Holiday Resorts Reports Record-Breaking Q3 Results with Double-Digit Growth

Sterling Holiday Resorts Reports Record-Breaking Q3 Results with Double-Digit Growth

By Nishang Narayan

Published on February 7, 2025

Sterling Holiday Resorts Ltd. has announced its strongest quarter yet in Q3 FY25, marking a milestone in the company’s growth trajectory. With 18 consecutive quarters of profitability, Sterling’s performance in Q3 surpassed even its traditionally dominant Q1, thanks to strategic portfolio expansion that strengthened revenue streams beyond peak seasons.

The company reported a 12% YoY income growth, reaching ₹1,389 Mn. EBITDA increased by 14%, with a solid 38.8% EBITDA margin, while EBIT rose 13% YoY.

Expanding Horizons: Three New Resorts Launched

Sterling’s portfolio now spans 48 locations with 57 resorts, hotels, and retreats in the upper-mid to upper-upscale segments. Strengthening its footprint, the company added three new resorts in Q3:

  • Sterling Lontano Waterfront Wayanad (Kerala)
  • Sterling Brookstone Coorg (Karnataka)
  • Sterling Bagh Ranthambore (Rajasthan)

Maintaining its rapid growth pace, Sterling has launched one resort per month for the past 18 months, with several more in the pipeline.

"Sterling has witnessed its strongest-ever quarter, a testament to our brand's growing preference among customers. A surge in holiday demand, coupled with our aggressive resort expansion, has fueled this success," said Vikram Lalvani, MD & CEO, Sterling Holiday Resorts.

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Food & Beverage Sees 20% Growth

Sterling’s food and beverage division has been another strong performer, recording a 20% YoY growth. The company attributes this to its enhanced dining experiences and a diverse range of culinary offerings across its properties.

Sustainability at the Core: Sterling Sankalp Initiative

Further strengthening its commitment to sustainability, Sterling has introduced Sterling Sankalp, an ESG initiative aimed at responsible tourism. The company has implemented key measures across several resorts, including:

  • Energy Conservation: Heat pumps for optimized energy use
  • Waste Management: Organic Waste Converters for eco-friendly disposal
  • Water Sustainability: Rainwater harvesting and water recycling programs

Looking Ahead

On a year-to-date (YTD) basis, Sterling has achieved a 14% growth in income (₹3,842 Mn) and a 35% EBITDA margin, showcasing its sustained upward trajectory. With an expanding portfolio, a thriving food and beverage sector, and a strong focus on sustainability, Sterling continues to solidify its leadership in the hospitality industry.


Treat Hotels & Resorts Signs New 132-Key Resort in Sangamner, Maharashtra

Treat Hotels & Resorts Signs New 132-Key Resort in Sangamner, Maharashtra

By Hariharan U

Published on September 1, 2026

Treat Hotels & Resorts has announced the signing of a new resort in Sangamner, Maharashtra, under a management agreement with Malpani Group, further expanding its presence across the Indian hospitality market.

Scheduled to become operational in 2028, the upcoming resort will be designed as a destination for leisure stays, celebrations and social gatherings, with a range of accommodation, dining and recreational facilities.

The property will feature 132 elegantly designed guest rooms, along with multiple ballrooms and banquet spaces designed to cater to weddings, celebrations, corporate events and other gatherings.

The resort will also include multiple lawns, a fine-dining restaurant and bar, and a selection of recreational activities, creating an integrated hospitality offering for both leisure and event-driven travel.

The Sangamner signing marks another milestone in Treat Hotels & Resorts' expansion strategy. With the addition of the new resort, Sangamner will become the company's seventh property in Maharashtra and its 21st property across India.

The company said its entry into Sangamner reflects its broader objective of bringing its hospitality offering to emerging destinations across the country.

Sangamner has a diverse economic profile shaped by agriculture, education and a growing business landscape, providing a mix of potential leisure, social and business demand for the upcoming property.

The resort is expected to serve as a hospitality destination for travellers visiting Sangamner as well as residents seeking spaces for celebrations, dining and recreation.

The partnership with Malpani Group further strengthens Treat Hotels & Resorts' development pipeline and supports its strategy of expanding through management agreements across India.

With the new resort, Treat Hotels & Resorts aims to establish a presence in Sangamner while offering guests its signature approach to hospitality through comfortable stays, dining experiences, celebrations and leisure facilities.

The development adds to the brand's growing portfolio and reinforces its ambition to expand its footprint across established and emerging markets in India.


Taj Enters Luxury Branded Villa Segment with Taj Mount Kusur in Lonavala

Taj Enters Luxury Branded Villa Segment with Taj Mount Kusur in Lonavala

By Manu Vardhan Kannan

Published on August 31, 2026

Indian Hotels Company (IHCL) has entered the luxury branded villa segment with the launch of Taj Mount Kusur Resort and Villas in Lonavala, Maharashtra. Developed in partnership with Amavi, India’s only hospitality-backed real estate brand, the project brings Taj’s luxury hospitality offering into a new category of branded residences.

Spread across a 34-acre estate in the Western Ghats, Taj Mount Kusur Resort and Villas will feature 32 branded villas alongside a 100-key Taj resort. The development offers views of the surrounding lake and valley and is designed to bring together luxury living, nature and Taj hospitality.

Commenting on the launch, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, said, “For over a century, Taj has defined luxury hospitality through its grand palaces, landmark city hotels, safaris and residences. Recognised as the World's Strongest Luxury Hotel Brand and India's Strongest Brand, Taj continues to strengthen its position at the forefront of the luxury hospitality sector. The launch of Taj Mount Kusur Resort & Villas marks our entry into the branded villa segment, broadening our portfolio to address evolving consumer preferences while bringing the trust, service excellence and legacy of the brand to a new category of luxury real estate.”

The villas take inspiration from contemporary barn-style architecture, with expansive glass façades and spacious verandahs that connect the homes with the surrounding landscape.

A key feature of the development is the two-acre Wabi-Sabi Central Park, inspired by the Japanese philosophy of simplicity and harmony with nature. The wider project will include a Miyawaki forest, nature trails, zen gardens, stargazing decks, golf putting greens, a fitness lawn and multi-purpose sports courts.

Residents will also have access to Club Amavi, which will offer wellness and recreation facilities along with banquet and dining spaces.

The branded villas will be offered for sale through a lease-back programme, with the villas integrated into the resort inventory. Owners will have access to Taj hospitality services including concierge assistance, housekeeping and maintenance, along with the leisure and wellness facilities available at the resort.

Mr. Apurv Kumar, Managing Director, Clarks Group of Hotels and Founder, Amavi, said, “Second homes are bought to create more time, time with family, time in nature and time for oneself. Yet too often, they become another responsibility. At Amavi, our purpose is to change that. Taj Mount Kusur Resort and Villas brings together the privacy and permanence of a home with the care and service of Taj hospitality. Rooted in the Western Ghats, it also reflects our belief that meaningful development must respect the land and create value for the communities around it. We want Mount Kusur to be not merely a property people own, but a place they return to, belong to and come to.”

The development is also designed around low-density planning, integrated amenities and professionally managed services, giving homeowners the privacy of villa ownership along with the convenience of a luxury resort.

Mr. Sachin Agrawal and Mr. Bajrang Bararia, Founders, Amavi, said, “With Taj Mount Kusur Resort and Villas, Amavi has sought to create a residential offering that combines design, nature and hospitality. Luxury consumers today are increasingly seeking experiences that combine the privacy of a second home with the services and assurance of a hospitality brand. The project's low-density planning, integrated amenities and professionally managed services are intended to provide homeowners with the privacy of villa ownership and the convenience of a luxury resort. Amavi is pleased to partner with IHCL in bringing this vision to life under the Taj brand.”

Located between Mumbai and Pune, Lonavala is an established leisure destination known for its valleys, lakes and waterfalls. Its connectivity and natural setting have made it popular among leisure travellers, wellness seekers and second-home buyers.

The Taj Mount Kusur project brings together this established destination appeal with branded villa ownership and hotel services, marking a new direction for Taj as it expands its luxury portfolio.


The Fern Hotels & Resorts Launches The Fern Residency Godhra

The Fern Hotels & Resorts Launches The Fern Residency Godhra

By Manu Vardhan Kannan

Published on August 31, 2026

The Fern Hotels & Resorts has announced the launch of The Fern Residency Godhra, Series by Marriott, further expanding its presence across Gujarat. The new property marks the group's 40th operational property in the state, strengthening its network across the region.

Located on Dahod Road Highway, the hotel has been designed to offer contemporary comforts, modern facilities and convenient connectivity for both business and leisure travellers visiting Godhra. The property features 64 rooms and suites, equipped with modern amenities for a comfortable stay. Dining is led by Cinnamon, an all-day dining, multi-cuisine pure vegetarian restaurant serving a mix of local and global dishes, along with beverages, snacks and savouries.

Cinnamon is open daily from 7:00 a.m. to 11:00 p.m., while guests can also access 24-hour in-room dining with a selection of meals, snacks and beverages. The hotel also features Crystal Hall, Grand Ball Room, Utsav Lawn and a dedicated meeting room. These spaces make the property suitable for corporate events, conferences, weddings, social gatherings and other special occasions.

Commenting on the launch, Suhail Kannampilly, chairman & managing director, The Fern Hotels & Resorts, said, “Gujarat continues to present significant opportunities for the hospitality sector, driven by its growing business ecosystem, improving connectivity and the increasing movement of both business and leisure travellers across emerging destinations. With the launch of The Fern Residency Godhra, Series by Marriott, we are delighted to further strengthen our presence in the state while bringing our signature hospitality, contemporary comforts and high-quality service to the city. The property has been thoughtfully designed to cater to the evolving needs of today’s travellers. This launch reflects our continued commitment to expanding into high-potential markets and creating meaningful hospitality experiences for travellers across India.”

Bhavesh Shah, partner, Shree Hospitality, said, “We are delighted to partner with The Fern Hotels & Resorts to introduce The Fern Residency Godhra, Series by Marriott. Our vision has been to create a hospitality destination that brings together contemporary comfort, modern facilities and warm, personalised service for guests visiting Godhra. We look forward to establishing the hotel as a preferred choice for business travellers, families, weddings and social celebrations while contributing to the region’s growing hospitality landscape.”

The hotel is approximately 65 km from Vadodara Airport, 6 km from Godhra Railway Station and 7 km from the City Centre Bus Stand, providing convenient access for travellers arriving in the city. As a Series by Marriott partner hotel, guests staying at the property can also access benefits through Marriott Bonvoy, Marriott International's travel programme.

With its combination of accommodation, dining and event facilities, The Fern Residency Godhra, Series by Marriott adds another property to The Fern Hotels & Resorts' growing Gujarat portfolio while catering to the city's business, social and leisure demand.

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