Indian luxury boutique hotel group JuSTa Hotels & Resorts has set a goal to achieve a turnover of Rs 100 crore in financial year 2023-24. The Bangalore-based company is on a major expansion spree since the last two years wherein it has added 11 new hotels and resorts to its portfolio since August 2020.
The company currently has 19 hotels and resorts with over 500 keys in Rajasthan, Uttarakhand, Himachal Pradesh, Delhi, Goa, Karnataka, Kerala and Tamil Nadu.
On the company’s exponential growth over the last couple of years, Ashish Vohra, Founder & CEO, JuSTa Hotels & Resorts, said: “Post-pandemic, we shifted our focus to luxury resorts and retreats and signed up our first hotel during the pandemic in Mukteshwar in August 2020. Since then, we have signed revenue sharing agreements with 11 hotels. In fact, 10 hotels were opened between the second and the third wave. In FY 2021-22, our turnover was Rs 25 crore and we should be able to achieve our pre-pandemic numbers this fiscal. If all goes well with the market and as per our business plan, we will achieve a turnover of Rs 100 crore in FY2023-24.”
The company, which currently operates hotels under two brands – JüSTa and NUO – is planning to launch another brand in the next few months. The latest brand of the company will focus on the uber-luxury boutique hospitality segment.