Peerless Hotels, the hospitality arm of the Peerless Group, is exploring strategies to increase its room count from 450 to 900 through acquisitions.
The company is optimistic about the current fiscal year, expecting it to be the most successful in its three-decade history in terms of revenue and profit. As a part of its transformation, Peerless Inn will undergo rebranding as Peerless Hotel.
Debasree Roy Sarkar, MD of Peerless Hotels, is confident about the prospects for 2023-24, emphasizing a steady year-on-year revenue growth of 28-30 percent. “Our hotels are performing well in terms of profits too, making this potentially our best year yet,” she stated.
Supriyo Sinha, director at Peerless General Finance and Investment Co Ltd., proposed that the goal of doubling room capacity could be realized through acquisitions or management contracts. Sinha highlighted the importance of reinforcing current properties before venturing into additional expansion.
As per Roy Sarkar, 32 rooms in the Kolkata property have undergone renovation and now operate under the name Club Eminence. Kuldeep Bhartee, CEO of Peerless Hotels, mentioned that the overall hotel occupancy rates are satisfactory.
