Having crossed the 1,000-key milestone globally, Tamara Leisure Experience Pvt. Ltd. (Tamara) is looking to double the number of keys in the domestic market to over 500 in four months, said a top official.
“We recently crossed 1,000 keys with the inauguration of our latest property in Coimbatore,” CEO Shruti Shibulal said during an interaction.
The Bengaluru-based hospitality firm has more than tripled its capacity in five years, and aims to expand mainly in the Southern States. O By Tamara in Coimbatore, its latest addition with 141 rooms, will be followed by expansions in Thiruvananthapuram, Kumbakonam and Guruvayur.
Ms. Shibulal said they are also eyeing religious tourism in smaller temple towns like Kumbakonam, Guruvayur, Velankanni and Bodh Gaya. Besides, Kannur in Kerala is also on the radar.
Tamara began operations in Madikeri, Karnataka in 2018, followed by Kodaikanal, Kerala and Germany. It acquired four properties in Germany with 618 keys.
Having invested close to ₹250 crore in two properties in Tamil Nadu and similar amount in Karnataka and Kerala, “we follow an asset light concept. The expansion will be done through acquisition or management contracts,” Ms. Shibulal said without divulging details about further investments or revenue.
Asserting that all the properties have achieved breakeven, Ms. Shibulal said while the domestic business has crossed the pre-Covid level, the international tourist’s arrival is yet to pick up.
Published - November 11, 2023 11:11 pm IST
