Dharampal Satyapal Group To Infuse Over Rs 500 Cr To Expand Its Current Hospitality Portfolio
Date
10/9/2023 7:37:14 AM
(MENAFN- ForPressRelease) New Delhi, October 9th, 2023 - Dharampal Satyapal Group (DS Group), a multi-business corporation and a leading FMCG Conglomerate, is set to significantly expand its presence in the hospitality sector with a cumulative investment of over INR 500 crores in the six properties it currently owns. With this investment, the DS Group is poised to achieve a CAGR of 15% in the hospitality segment over the next 2-3 years which is higher than the industry.
As part of its expansion plan, DS Group aims to acquire three new properties over the next three years to make it a total of nine premium properties across the country. The three new properties will be in India's North and Eastern regions. Upon completing this expansion plan, DS Group aims to have a total of 1500 keys across its hospitality properties thus, reinforcing its position in the hospitality industry. The growth strategy will incorporate a mix of organic and inorganic elements.
Commenting on the announcement, Mr. Rajiv Kumar, Vice Chairman, DS Group, said, "DS Group's strategic growth vision is aligned to the overarching vision of delivering exceptional, meticulously crafted, and memorable guest experiences to leverage the synergies while aiming to capture new market opportunities. With our valued partners, we are very optimistic about our future and aim to create meaningful value for all our stakeholders."
The DS Group has been in the hospitality business since 2000. Presently, its hospitality portfolio encompasses six distinguished properties such as- The Manu Maharani in Nainital and Namah in Jim Corbett National Park, which are both members of Radisson Individuals, Radisson Blu Hotel Guwahati, Crowne Plaza, Jaipur Tonk Road, Holiday Inn Express, Kolkata Airport and the Marriot managed Renaissance Hotel in Bengaluru.
About DS Group:
The DS Group (Dharampal Satyapal Group) is a Multi-Business Corporation and one of the leading FMCG (Fast Moving Consumer Goods) conglomerates with a strong Indian and International presence. Founded in the year 1929, it is an inspiring and successful business story that blends a remarkable history and legacy with visionary growth. It has an extensive and diverse portfolio with presence in Mouth Freshener, Food and Beverage, Confectionery, Hospitality, Agri, Luxury Retail businesses, and other investments. Rajnigandha, Catch, Pulse, FRU, Maze, Ksheer, Pass Pass, BABA, Tulsi, L'Opera, Le Marche, UnCafe, Birthright, Laderach, LuvIt, Chingles, The Manu Maharani, and Namah are some of the leading brands, the Group proudly shelters today.
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