Louvre Hotels Group Buys Majority Stake in Sarovar Hotels

MUMBAI—Louvre Hotels Group has acquired a majority stake in Sarovar Hotels, an independent Indian hotel chain. The deal is the first of this size for the European hotel group in the Indian subcontinent and cements its plans for international expansion.

After launching efforts to strengthen its positions in China and Southeast Asia, Louvre Hotels Group is building its presence in South Asia. The majority stake in Sarovar Hotels encompasses 75 hotels on the premium, mid-range and budget sectors, through three brands: Sarovar Premiere, Sarovar Portico and Hometel.

The group also has two F&B brands, The Geoffrey’s Pub and the Oriental Blossom, and manages the lodging and catering facilities of various institutions in India. In addition, the group manages 10 hotels under the Radisson, Park Plaza and Park Inn brands.

Sarovar has developed significantly over the past five years, growing from 4,500 to nearly 6,000 rooms in more than 50 cities. Sarovar has a secured pipeline of more than 20 hotels, most of which are due to join the network shortly. Over the last few years, Sarovar also started to develop its brands outside its boundaries, targeting Africa and Eastern Africa.