Roseate expands in UK and diversifies portfolio in India
This purchase marks the brand's eighth property globally and its fifth hotel in the UK.
The luxury hospitality brand is also pursuing a development strategy in India, with multiple projects underway.
The company has acquired a 2.6-acre plot for a hotel near the upcoming Noida International Airport in India. The property will include a convention centre.
Post-monsoon, Roseate aims to expand its existing resort in Rishikesh with 31 additional villas.
Additionally, a boutique luxury property is under construction in Goa.
Branching out from its core hospitality business, Roseate is venturing into the branded residences market, with projects in Ayodhya and Dehradun tailored for affluent individuals and non-resident Indians.
These residences are expected to command a premium of 20–30% over the standard market values.
The group is also exploring the senior living sector, focusing on Tier 2 and Tier 3 cities in India.
Roseate is in talks with the government of Himachal Pradesh and other states to build and manage ice skating rinks, utilising its in-house expertise to provide recreational facilities.
The company is considering an ice rink within a shopping mall in Delhi as part of this initiative.
Besides focusing on an asset-heavy approach, Roseate is now also considering an asset-light model, which will focus on strategic locations and partnerships for development.
In December 2019, Roseate House New Delhi ventured into the flexible workspace arena by introducing its first premium coworking club in Aerocity.
"Roseate expands in UK and diversifies portfolio in India" was originally created and published by Hotel Management Network, a GlobalData owned brand.
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