Omaxe to invest ₹6,200 Crore in new hospitality vertical
Omaxe Limited is launching a hospitality vertical, investing ₹6,200 crore over 4-5 years to develop 19 hotels across 13 cities in five states. The expansion aims to generate ₹1,000 crore in annual revenue upon stabilization. Key projects include a Gateway Hotel in Dwarka, New Delhi.
The substantial investment of ₹6,200 crore and the creation of a new hospitality vertical represent a major strategic initiative that could significantly impact the company's future revenue and market position.
The announcement details a significant investment in a new business vertical, indicating growth and expansion for the company.
Omaxe Limited has announced the establishment of a dedicated hospitality business vertical with plans to develop 19 hotels spanning nearly 5 million sq. ft. across five states over the next 4-5 years. The company proposes an investment of approximately ₹6,200 crore, subject to necessary approvals and market conditions, to create hospitality assets in urban centers, pilgrimage destinations, and transit corridors. These developments will be integrated with Omaxe's existing townships and mixed-use projects.
Of the 19 hotels, 12 will be in Uttar Pradesh (including two in Ayodhya, three in Lucknow, one each in Prayagraj, Ghaziabad, Gorakhpur, two in Kaushambi, and two in Vrindavan). Additionally, Omaxe will develop one hotel each in New Delhi, Faridabad, and Ujjain, and four hotels across Chandigarh, Amritsar, and Ludhiana (including two in Chandigarh). This expansion will establish Omaxe's presence in 13 cities across five states within the next 4-5 years.
A key project includes a 158-key Gateway Hotel by IHCL at The Omaxe State in Dwarka, New Delhi, developed under a Public-Private Partnership (PPP) with the Delhi Development Authority (DDA). Omaxe will also develop transit-oriented hospitality infrastructure in Uttar Pradesh through PPP projects with the Uttar Pradesh State Road Transport Corporation (UPSRTC). This initiative aims to bolster Omaxe's recurring revenue stream.
The hospitality portfolio will cater to various segments including business travel, leisure, destination weddings, MICE, and religious tourism, comprising midscale, upscale, luxury, and premium branded hotels, as well as serviced apartments. The investment will be deployed in phases, with the potential to generate approximately ₹1,000 crore in annual revenue upon stabilization, based on current business assumptions and market conditions.
Omaxe is currently in advanced discussions with leading hospitality operators for branding and management partnerships, with formal announcements expected upon finalization of agreements.
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Omaxe Limited filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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