Apeejay Surrendra Park Hotels is targeting 85 hotels and 6,635 keys by FY30 as it steps up expansion across business, leisure and pilgrimage destinations, with Tier 2 and Tier 3 cities emerging as key growth markets.
The company currently operates 42 hotels with 2,677 keys and plans to add 12 hotels and 472 keys in FY27. Its long-term strategy is to double the overall portfolio, with the asset-light network expected to expand threefold.
Zone brand to drive expansion
The asset-light expansion will be anchored by Zone by The Park Hotels, with the company targeting 33 hotels and 2,521 keys under the brand.
In FY26, the company expanded into hill and pilgrimage destinations, launching Zone properties in Darjeeling, Gangtok and Katra.
Management comment
Apeejay Surrendra Park Hotels, Chairperson, Priya Paul, said in a message to shareholder the move reflected changing preferences among Indian travellers, who are increasingly seeking dependable and well-designed stays beyond metropolitan markets.
“We are expanding the brand by acquiring Purity on Lake Vembanad and The Malabar House in Fort Kochi, Kerala, while also adding a property in Tranquebar, Tamil Nadu,” Paul said.
Kerala expansion strengthens boutique portfolio
The company has expanded The Park Collection in Kerala through the acquisition of Purity at Lake Vembanad, including a luxury houseboat asset, and the signing of The Malabar House in Fort Kochi.
The Malabar House transaction is expected to be completed by October 2026. The company has also formalised a distinct identity for The Park Collection, its portfolio of five-star boutique properties.
Investments target guest experience
Across its portfolio, the company is investing in new restaurants, wellness facilities, room renovations and upgraded public spaces to improve guest experiences.
At The Park Visakhapatnam, 100 rooms are being added, while the Residence Floor at The Park Chennai is undergoing a complete refurbishment. The company also plans to expand food and beverage offerings at its Goa hotels.
Flurys scales retail footprint
The company’s retail-dining brand Flurys recorded 29% year-on-year revenue growth and expanded its network to 110 outlets.
Flurys plans to add around 30 outlets over the next 10 months, taking its network to about 140 stores across Delhi, Pune, West Bengal, Hyderabad and Bengaluru. The company aims to add 30–40 outlets annually through 2030.
Real estate adds new growth engine
Apeejay has evolved from a traditional hotel operator into a multi-engine growth platform comprising hospitality, the expanding Flurys retail business and strategic real estate monetisation.
THE Park UNIZEN, a hospitality-led mixed-use project in Kolkata, comprises a 218-key hotel and 69 luxury serviced residences. The project is expected to generate ₹300–350 crore in cash flows over the next three years, supporting the balance sheet and financial flexibility.
Pipeline supports long-term growth
Apeejay Surrendra Park Hotels, Managing Director, Vijay Dewan, said that the Juhu property is targeted for launch in H2 FY28, while construction is underway in Visakhapatnam and progress continues across Pune and Navi Mumbai.
“Together, these initiatives offer us greater optionality and strengthen the foundations for our next phase of growth,” Dewan said.
The company said its 12% revenue growth represented an outperformance of the hospitality sector and reflected the strength of its portfolio amid the continuing hospitality upcycle.