“Sterling has aggressive expansion plans and aims to double its inventory from the current 2,400-plus rooms to 5,000 rooms by 2025.
“In line with this, over the last one year, Sterling has opened resorts in Guruvayur, Thekkady and Rishikesh,” Sterling Holiday Resorts Chairman and MD Ramesh Ramanathan told PTI.
For the upcoming resorts, several locations are on active search including Mysore, Udaipur, Jodhpur, Varanasi, Coorg and Kumarakom. Apart from this, we are keen on exploring options near Mumbai and along the coasts of Orissa, he added.
When asked about the investment the company will be making for the expansion, Ramanathan said, “Our unique hybrid model enables us to expand using an asset light approach. Our investments are into sales, marketing and distribution that enable optimal capacity utilisation”. The company has also ventured into secondary and tier-II markets, he added.
Sterling’’s hybrid model includes memberships as well as the hotel segment businesses like free independent travelers (FITs), conferencing, weddings, re-unions and leisure groups, Ramanathan said.
This model has been perfected to maximise revenues through the year and take care of the large peaks and troughs in leisure business, he added.