Atharva Hotels & Resorts Inks Management Contract for 5215 Keys
New Delhi (India): Atharva Hotel Superfluities India Private Limited marked as Atharva Hotels & Resorts group has embarked on an ambitious plan to put into operation more than 5,000 hotel rooms under their management (operational and under development). Taking their first step in that direction, Atharva Hotels & Resorts recently announced its first hotel in association with IHG under their VOCO Hotels banner in Gurugram. The Delhi NCR-based group is focused on working as a zero-debt organization. Keeping that in mind, they are focused on following the model of being asset-light and having long lease understandings with reputed builders.
Having already signed up a management contract of 5,215 rooms, the group has put together a comprehensive plan in place that will be a win-win for all the stakeholders involved, including the travelers. On the development front, the shell work and facilities have been completed for most of the properties and only interiors and soft furnishing is pending. “Atharva has entered into a formal understanding for the operation of 2,585 rooms with Omaxe Builders. Under their agreement, Atharva will operate 540 rooms in Lucknow, 984 rooms in Greater Noida and three properties in New Chandigarh (the medical city) totaling 1061 rooms,” informed Mr. Prawal Choudhary- Chairman, Atharva Hotels & Resorts.
The group will have 2025 hotel rooms operational in Gurugram. “We have chosen to partner with very reputed builders, as we are very quality-conscious, and want to create the best experience for our well-traveled guests. Out of the 2025 rooms in Gurgaon, approx. 900 plus are with M3M, and the rest with other leading builders. Our first openings would be a 204-room VOCO hotel with IHG and a 130 units studio apartment hotel, both in Gurugram in the last quarter of 2023,” added Mr. Prawal Choudhary. Talking about their association and the plan of action, Mr. Deepak Jha- MD, Atharva Hotels & Resorts said, “Our endeavor is to create a debt-free asset management company that delivers the best for their customers and partners. Our unique offering and top-of-the-line service arrangement are going to revolutionize how hotel brands, property owners and management companies engaged.”
“The noteworthy differentiator of the Atharva Asset Management model is the commitment of minimum guarantee to the ownership, which no other Asset Management Company or any leading brand provides. We also work on a lease rental model with hotel owners. This, along with the complete set of services offered makes us the preferred choice in the market,” added Mr. Deepak Jha.
Atharva will also be a part of the financial management and would organise and govern all the financial activities of these hotels, and cover the full spectrum of property planning and management, which would also include space requirements, facilities for guests, food and beverage concepts and requirements, protection measures for guests, setting operational standards and sustainability measures. Aesthetic aspects like fixtures and finishes and guidelines for architects, interior designers and other consultants would also fall under the purview of Atharva.