Poddar Group Invests Rs 800 Cr in Hospitality Assets

Guwahati, May 7 (PTI) Guwahati-based diversified conglomerate the Poddar Group on Thursday said it will invest Rs 800 crore to develop 10 hospitality assets over the next 5-10 years, primarily in the northeast.

Addressing a press conference here, Poddar Group MD and COO Ankit Poddar said its hospitality arm is looking at a mixed model of company-owned, leased and acquired assets to expand its portfolio in the coming days.

"Our Rs 800-crore expansion roadmap reflects a long-term, disciplined approach to growth. While the northeast continues to be our primary focus area, we are also open to opportunities across other parts of India where we see the right alignment," he said.

The upcoming properties will be a combination of owned assets with hotel management agreements and lease structures, allowing the company to expand in a flexible and sustainable way, Poddar said.

"We are also open to acquisition in the northeast to expand our footprint," he said.

On Thursday, the group's premium hospitality brand 'Hotel Palacio', established in 2015, announced the launch of its second property with 83 keys at Paltan Bazar in Guwahati.


"As part of our focus on creating differentiated guest experiences, we have introduced 'Omara', Palacio's signature restaurant developed in collaboration with celebrity Chef Vicky Ratnani in the new hotel, bringing in a refined dining experience to the city," the MD said.

With the addition of this hotel, the brand now operates three properties overall – two in Guwahati and one in Alipurduar in West Bengal, marking a steady expansion of its footprint in the region.

"With our upcoming projects, including the Hyatt Regency Gangtok that is currently under development, we are working towards building a well-rounded hospitality portfolio across segments and markets," Poddar said.

Poddar Group Chairman Anup Poddar said its larger vision is to build Palacio into one of the "most respected" hospitality brands to emerge from Assam, while staying rooted in the region's identity and values.

"Over the years, we have seen the northeast evolve significantly with rising aspirations, better connectivity, and increasing demand for quality hospitality experiences. Our focus has been to grow alongside this change in a thoughtful and consistent manner," he added.

The Poddar Group has presence in various sectors such as automobiles, media, healthcare, education and real estate among others.