Aamod Resorts, a boutique resorts chain, has announced that it will expand its business by adding another 13 properties across the country by the end of 2020.
With this expansion plan, the company will have a total of 25 properties to its list which now stands at 12 properties since its inception in 2010. All 13 new boutique properties will be a mix of the company owned properties and under the management contract. The new properties are planned to be launched in Central and South India as the company believes that it already has a strong presence in North India. It follows an asset light model which helps to scale up the operations.
Gaurav Jain, the Managing Director of Aamod Resorts, has added that the company will also be focusing on increasing its footprints in Sri Lanka as they are already operating there and the hospitality sector is under-serviced at present. With a good infrastructure, Sri Lanka market seems to be a huge potential to grow for any hospitality major.
Aamod Resorts is also planning to have a fund raise by the second half of next year for developing the company owned properties.
“As most of the properties will be under the management contract model, our investments will not be very large. Our investment will be mainly on the properties that we would own,” says Jain.