Sterling Holiday to double room inventory to 4,500

Sterling Holiday Resorts on Wednesday said it is aiming to double its room inventory to around 4,500 and expand footprint to over 50 destinations in the next four to five years. The company has over 2,200 rooms at its 33 resorts spread across the country. "We are planning to double our room inventory to around 4,500 rooms across the country in the next four to five years. Going forward we will primarily follow an asset light model," Sterling Holiday Resorts MD Ramesh Ramanathan told reporters. The future growth will be mainly driven by the management contract model, though from time to time the company will also develop some of its own properties, he added. "We are actively talking to lots of people and are also looking for people who want to give their hotels," Ramanathan said. He was speaking on the sidelines of the launch of the new brand identity of the company. When asked about the investments for expansion, Ramanathan said as the company plans to follow an asset light model, there will be hardly any investment for properties under management contract. "Our expenses going forward will be on the brand and making sure our customers are super happy. As and when we develop our own property, the cost is around Rs 65 to Rs 70 lakh a room," he added. Going forward, the investments will be on technology, digitalisation, Ramanathan said. "Our focus will be on delivery and service for all kind of holidayers. In the process we would also be contributing to the local economies and creating jobs," he added. Founded in 1986, Sterling Holiday Resorts has a network of 33 resorts in destinations such as Agra, Daman, Darjeeling, Dharamshala, Gangtok, Goa, Kanha, Karwar, Kodaikanal, Kufri, Lonavala, Manali, Munnar, Mussoorie, Nainital, Ooty, Puri and Shirdi, among others.