Key Highlights
- Omaxe announced a dedicated hospitality business vertical with a planned investment of ₹6,200 crore.
- The company plans to develop 19 hotels across nearly 5 million sq. ft. over the next four to five years.
- The hospitality projects will be spread across 13 cities in five states, subject to approvals.
- Twelve hotels are planned in Uttar Pradesh, including Ayodhya, Lucknow, Prayagraj and Vrindavan.
- The portfolio will include branded hotels, luxury properties, pilgrimage hotels, MICE facilities and serviced apartments.
- Omaxe expects the hospitality business to generate around ₹1,000 crore in annual revenue after stabilization.
- The company is in discussions with domestic and international hospitality operators for branding and management partnerships.
Omaxe Ltd. has announced the launch of a dedicated hospitality business vertical with a planned investment of approximately ₹6,200 crore over the next four to five years. The real estate developer plans to establish 19 hotels across nearly 5 million square feet in five states, subject to project-specific approvals, regulatory clearances, and market conditions.
The proposed hospitality portfolio will be integrated with Omaxe’s existing developments, including townships, mixed-use projects, commercial destinations, and urban infrastructure assets. The company said the initiative is aimed at strengthening its presence in the hospitality sector while creating recurring revenue opportunities.
As part of the expansion, Omaxe plans to develop 12 hotels in Uttar Pradesh. These include projects in Ayodhya, Lucknow, Prayagraj, Ghaziabad, Gorakhpur, Kaushambi, and Vrindavan. The company also intends to develop one hotel each in New Delhi, Faridabad, and Ujjain, along with four hotels across Chandigarh, Amritsar, and Ludhiana. Upon completion, Omaxe expects to have a presence across 13 cities.
One of the major planned projects is a 158-key Gateway Hotel by IHCL at The Omaxe State, the company’s integrated destination project in Dwarka, New Delhi. The development is being executed under a Public-Private Partnership (PPP) model with the Delhi Development Authority (DDA). Omaxe is also working on a transit-oriented hospitality infrastructure project through a PPP with the Uttar Pradesh State Road Transport Corporation (UPSRTC).
According to the company, the hospitality portfolio will include midscale and upscale branded hotels, luxury and premium properties, destination wedding venues, MICE (Meetings, Incentives, Conferences and Exhibitions) facilities, leisure tourism projects, high-capacity pilgrimage hotels, branded serviced apartments, and extended-stay studios. Each project is expected to be designed based on the tourism profile and demand of its respective location.
The investment is proposed to be deployed in phases over the next four to five years. Based on current business assumptions and subject to project execution, occupancy levels, regulatory approvals, and market conditions, the company estimates that the hospitality business could generate approximately ₹1,000 crore in annual revenue after stabilization.
Omaxe said it is currently in discussions with domestic and international hospitality operators for branding and management partnerships. Formal announcements regarding these partnerships are expected after definitive agreements are finalized.