LaRiSa Hotels & Resorts and AM Hotel Kollection have announced a merger to create a consolidated entity poised to make significant enhancements in the Indian hospitality industry.
The combined operations now include 26 hotels with 950 keys and an additional six hotels with 120 keys in development, generating an annual revenue exceeding Rs1bn ($11.51m).
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The new company retains the LaRiSa brand, integrating the strengths of both entities.
This agreement is set to drive growth and expand the merged company’s market reach, with a projected increase of 20%-25% in revenue over the next few years.
The focus will be on branded and co-branded ownership and management, aiming to become a preferred property manager and employer.
LaRiSa owner and director Priya Thakur and AM Hotel Kollection founder and CEO Randhir Narayan will lead the merged company.
Their partnership unites LaRiSa’s owned properties with AM Hotel Kollection’s managed boutique hotels, resulting in a diverse portfolio of 32 properties.
The merger solidifies LaRiSa’s leadership in the hospitality sector by offering a broader spectrum of culturally authentic and innovative experiences.
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.”
Additionally, the company plans to launch a new mid-market brand with rooms priced between $50 to $100.
The co-founders’ shared vision emphasises sustainable innovation, operational efficiency, and unique guest experiences.
LaRiSa is committed to maintaining its high standards of personalised service while leveraging AM Hotel Kollection’s expertise in managing independent properties.
Since the merger, plans are underway to launch six new hotels with 120 keys and explore international management opportunities, particularly in regions with direct flight connections, marking the first phase of their international expansion strategy.
Narayan said: “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 organisations. 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.”
