Staying A Step Ahead
To grow its wide hospitality portfolio, comprising hotels and restaurants, Vatika Hotels Prestige Group is planning on an IPO this year
By Vinita Bhatia
At a time when developers are investing in new properties, Vatika Hotels chose to adopt a more prudent approach. It is planning to increase the capacity of the two properties it owns â€“ The Westin Gurgaon, New Delhi with 200 rooms and 40 additional rooms at The Westin Sohna Resort & Spa. Currently, the company has a total of 416 keys â€“ 313 rooms at The Westin Gurgaon, New Delhi and 103 rooms at the other property.
In addition to this, it has restaurants, which include Nukkadwala, Coriander Leaf, 56 Fresca and 56 Ristorante. “Nukkadwala is the newest chain of its Quick Service Restaurants, of which currently 10 are operational and four are coming up in the NCR region. We have plans to expand overseas with outlets in Dubai, London, and New York soon,â€ť informed Deepak Uppal, executive director, Vatika Hotels. â€śIn addition to this, we have rigorous growth plans for all our verticals and aim to issue an IPO by the third quarter of 2018.
Last year, Vatika Hotels was busy with the expansion of Nukkadwala at two locations in Delhi, while doing the groundwork for opening four more this year. It also increased the 56 Fresca outlet at Vatika Mindscape in Faridabad. In the non-hospitality domain, it expanded its facility management company, Vatika Business Centres, and launched two new business centers under this vertical.
Talking about the trends that act as key influencers in the hospitality business, Uppal said one of the primary ones was use of the latest technology along with an innovative approach to enrich client experience at the right time. â€śRetainer ship and association options with brands also play equally important roles,â€ť he stated.
This is why the company chose to partner with Starwood (now Marriott International). â€śWith the acquisition, Marriott has become the largest hotel group in the world, with enhanced competitive position,â€ť he added, the benefits of which are being accrued by owners and developers as well.
While Vatika has been going slow on the hotel development front, it is keen to invest in brownfield projects and is currently seeking opportunities in the market. However, ultimately, the decision will be taken considering the value it offers in the long-term. The reason for this approach is the companyâ€™s priority to be profitable, rather than just develop an enviable bouquet of brands to boast of.