Eco Hotels and Resorts has set an ambitious target to operate more than 2,000 hotel rooms by March 2025 in India.  

The company’s expansion strategy advanced with the signing of an agreement in January to acquire a 100% stake in Vitizen Hotels Limited (VHL), which is popularly known as VITS, reported Press Trust of India (PTI) via Business Standard.   

This deal adds 20 hotels and approximately 1,200 rooms to Eco’s portfolio. 

Eco Hotels and Resorts executive chairman Vinod K Tripathi told PTI: “This breakthrough moment marked by the signing of this momentous MOU [memorandum of understanding] and its reflection on our team’s dedication to reach ambitious goals through clever decision-making.”  

The acquisition is a significant leap towards Eco’s goal of expanding its room operations. 

With the acquisition of VITS, Eco Hotels and Resorts is not only increasing its current inventory but also setting a foundation for future growth.  

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The executive chairman shared that the company aims to operate 5,000 hotel rooms in India over the next five years and scale it up to 15,000 hotel rooms within the next 15 years. 

Eco Hotels and Resorts has already made strides in the hotel industry with two brands in Kerala, India.  

The company has identified key properties in the western region of India, including Mumbai, Goa, and Pune, for capital investment and expansion. 

Eco Hotels and Resorts’ vision is to create a wide network of luxurious hotels under its ‘The Eco’.  

In December 2023, Indian online travel aggregator acquired a non-controlling stake of 13.39% in Eco Hotels and Resorts in a share swap transaction. 

The deal involved the acquisition of four million equity shares, each valued at Rs10 ($0.12), which were issued on a preferential basis.