BusinessWire India
New Delhi [India], February 12: Two hospitality companies have aligned forces, creating one powerhouse organization strategically positioned for the future of the Indian hospitality industry: LaRiSa Hotels and Resorts that owns and operates hotels with a portfolio of 8 properties across India and AM Hotel Kollection that manages experiential boutique hotels with 18 properties have a combined annual operating revenue of more than INR 100 Crore with 26 operational units comprising 950 keys and another 6 hotels with 120 keys on the anvil.
In its new avatar, the new company under the brand LaRiSa Hotels and Resorts captures the passions and unique strengths of AM Hotel Kollection, an established operator managing independent and lifestyle properties, and LaRiSa Hotels, known for its owned and operated hotels, as well as curated and experiential hospitality.
This merger will drive greater success and provide the necessary momentum for accelerated growth - giving the company an opportunity to participate in Branded and Co-branded ownership and management space. Their combined centers of excellence will make it the property manager and employer of choice as it delivers improved and accelerated results focused on service to owners and hotel guests. Over the next few years, the merged entity expects a 20-25% growth from the existing and also hopes to enhance the revenue through new acquisitions and management contracts.
Hospitality innovators join forces
Leading the new company are Ms Priya Thakur - Owner and Director of LaRiSa Hotels and Mr Randhir Narayan--Founder and CEO of AM Hotel Kollection.
This transformative partnership merges LaRiSa's signature collection with AM Hotel Kollection's unique hotels across India and beyond, creating a collective portfolio of 32 diverse hotels, resorts and villas.
This landmark merger cements LaRiSa's position as a leading name in hospitality, now offering a wide range of experiences that seamlessly blend cultural authenticity, modern innovation, and a commitment to personalized service. AM Hotel Kollection will continue as a sub-brand within LaRiSa, retaining its essence while benefiting from LaRiSa's broader vision and resources.
Commenting on the merger, Ms. Priya Thakur said, "This merger is a milestone in LaRiSa's journey, aligning two like-minded brands that share a passion for redefining hospitality. The focus and goal of our merger is to be the best in independent and brand management as well as the most experiential hotel company in the industry for our guests, our employees and the communities we operate in. Together, we envision an expansion in the coming years, bringing even more diverse, immersive, and transformative experiences to our guests."
Said Randhir Narayan on announcing the merger, "The big idea has always been about that perfect balance between business strategy, employee culture, and unique guest experiences. We understood that there were unique and exceptional advantages in combining the respective strengths of our organizations. Now, the new umbrella brand LaRiSa Hotels & Resorts with its experience of owned properties, capability to innovate, will significantly enhance owner value, allow for employee advancement opportunities, as well as portfolio growth."
In addition to this merger, the company is also working on introducing a NEW brand aimed at the mid-market. Recognizing the potential in both the boutique and curated hospitality segments, the new brand will offer rooms priced at approximately USD 50 to 100 approx INR 4000-9000.
Expanded geographical reach with new standards in guest satisfaction and property management
The co-founders share a deep commitment towards sustainable innovation, operational efficiency, and delivering unique and eloquent experiences for guests.
This merger not only aligns with the new entity's ambitious growth strategy but also expands its geographical reach into newer locations and niche markets where guests are looking for unconventional experiences.
Going forward, LaRiSa Hotels & Resorts will provide a wider range of specialized services while continuing to offer all services available before the merger. Its commitment to personalized service will now see AM Hotel Kollection strengthen its offering and continue to add to the portfolio by operating and managing independent properties while benefiting from LaRiSa's broader vision and resources.
Since the merger, the company is working on launching 6 newly contracted hotels comprising 120 keys and is also evaluating international hotel management opportunities, especially to direct flight destinations in the region as the first phase of international expansion.
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