Averest Hotels and Resorts India on Wednesday formally announced foray into the hospitality sector and plans to open its first property, coming up in the city, next month.
A Hyderabad-headquartered entity, it aims to have 20 Averest branded properties in the country and abroad in three years.
The first property, which is coming up at Gachibowli is a mid-segment hotel and targeted at both corporate and leisure travellers with pocket friendly luxury offerings, a release said.
It plans to expand in a phased manner, including opening three properties in Andhra Pradesh, Karnataka and Uttarakhand in six months.
Going international
The brand will spread wings to an international destination by early 2022, while entry into premium luxury segment will be by 2024, the release said.
Averest Hotels and Resorts India founder-MD N. Rajendra Prasad said, “With an able team of experts from the hospitality industry, the group will soon have its footprint in multiple States in India and also make an international debut with a property in Gulf or European region.”
