V Resorts, Boutique leisure travel brand, is planning to expand its footprint in eastern and northeastern India with an investment of about Rs 15 crore over the next three years.
Aditi Balbir, Founder and CEO, V Resorts, "The company is planning to acquire management of around 1,500 properties across India, of which 100 will be in the eastern and north-eastern states over the next three years. The total investment will be around Rs 106 crore ($15 million). For this, we shall raise funds to the tune of around Rs 70 crore."
As of now, the brand is managing seven-eight properties in the eastern region, including one each at the Sunderbans and Kolkata.
"We feel there is a lot of untapped potential in this market. Several locations in West Bengal, Meghalaya, Assam, Bihar and Odisha are a hotspot for travellers in search of leisure stay. We intend to cater to that space," she further said.
Balbir added, "With the expansion, our workforce will also increase from the current 2,100 to about 15,000. We recruit mostly local talent."
She also said, "We plan to expand in south and south-east Asian countries such as Sri Lanka, Thailand and Singapore. The Sri Lankan operations will start by the end of this fiscal. The middle east businesses should begin by the next 12-15 months."
