Apeejay Surrendra Park Hotels targets 6,653 keys as FY26 revenue tops ₹707 crore

The company reported FY26 results while outlining plans to more than double its room inventory over the next five years.
Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for the fourth quarter and year ended March 31, 2026.

Revenue from operations stood at Rs. 183.70 crore in Q4 FY26, versus Rs. 177.32 crore in Q4 FY25. Operating EBITDA was Rs. 52.99 crore versus Rs. 62.09 crore in the corresponding quarter last year, while profit after tax for the quarter stood at Rs. 11.88 crore versus Rs. 26.58 crore in Q4 FY25. For FY26, revenue from operations stood at Rs. 707.28 crore and PAT at Rs. 65.72 crore

Expansion and Portfolio Growth

The company continued to expand its presence during the year, with a focus on Tier II and Tier III markets. It acquired controlling stakes in Zillion Hotels and Resorts Private Limited, Fisherman’s Grove Resorts Private Limited and Thali Hotels and Destinations Private Limited, adding properties in Mumbai and Kerala to its portfolio. The company also plans to increase its room inventory to 6,653 keys over the next five years.

Flurys Performance

Flurys, the Company’s iconic bakery and confectionery brand, now operates 110 outlets and remains well positioned for further expansion. Flurys delivered a strong 29% YoY growth in revenue during FY26, reflecting continued traction across both new and existing stores. The brand’s consistent network expansion aligns with the Company’s strategy to scale its retail footprint while preserving its rich legacy and brand equity.

Leadership Comment

Commenting on the Q4 FY26 performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said, “FY26 has been a significant year, with revenue crossing the ₹700 crore milestone for the first time. Q4 continued to reflect resilient operating performance across the portfolio with the Company maintaining its leadership position in occupancy and RevPAR. The sale of serviced apartments at EM Bypas Kolkata, has exceeded expectations resulting in substantial improvement in this year’s cash flow. The 75% dividend payout approved by the Board reflects the strength of our balance sheet and growth momentum. The outlook remains positive, and we continue to focus on creating long-term value for our shareholders through strategic portfolio expansion, enhanced guest-centric experiences, operational excellence, and sustained margin improvement.”

Apeejay Surrendra Park Hotels Signs Management Agreement for Zone by The Park, Indore

National, May 2025: Apeejay Surrendra Park Hotels Limited (ASPHL) is pleased to announce the signing of a definitive hotel management agreement for the development of Zone by The Park, Indore, located within the upcoming Alankrit Film City. This 117-key hotel will bring the brand’s signature design-led, social and vibrant hospitality to one of Madhya Pradesh’s fastest-growing urban hubs.

Strategically positioned just 30 minutes from Devi Ahilyabai Holkar Airport, Zone by The Park, Indore is set amidst the state’s first-of-its-kind film city development. Alankrit Film City is envisioned as a cultural and entertainment destination, offering multiple shooting locations, thematic gardens, film sets, recreational parks and a dedicated wedding mandapam—making the hotel a prime location for both business and leisure travelers.

The hotel will feature thoughtfully curated experiences including Bazaar – the all-day dining restaurant, Z Bar – a high-energy bar, Vitalia Spa, and Playa – the pool. In addition, a range of indoor and outdoor banquet spaces will offer the ideal setting for social celebrations, weddings, and corporate gatherings.

Commenting on the signing, Mr Vikas Ahluwalia, General Manager and National Head, Zone by The Park Hotels, said, “We are thrilled to bring Zone by The Park to the dynamic city of Indore. With its strategic location inside the Alankrit Film City and a vibrant blend of hospitality, design, and entertainment, the hotel will be a landmark destination. This signing further strengthens our presence in Central India and reflects our commitment to delivering exceptional guest experiences across emerging markets.”

Mr Ravish Jain, Partner RR Jain Infra opined, “We are happy to partner with Apeejay Surrendra Park Hotels Limited- one of the oldest hospitality brands who has been delivering unmatched guest’s experience. This partnership provides us with an incredible opportunity to reach more travellers.”

With this addition, ASPHL continues to grow its Zone by The Park portfolio, offering upper mid-scale hotels that are stylish, social, and rooted in local culture.

Apeejay Surrendra Park Hotels unveils new brand, Zone Connect

Apeejay Surrendra Park Hotels Limited launches Zone Connect, a limited service brand under its Zone by The Park portfolio. Zone Connect channels its inimitable spirit and design ethos of Zone by The Park. The brand has been launched with 4 Zone Connect hotels, all under management contract, in Coimbatore, Goa and Port Blair. The hotels are slated to open in the first half of 2021.

Zone Connect Coimbatore will have 55 contemporary designed rooms, an all-day dining, bar and a banquet which makes it an ideal business hotel. This is the group’s second hotel in the city, after Zone by The Park Coimbatore, which was launched in 2014.

Zone Connect Goa in located in bustling Bandez (north of Goa) and will house 49 rooms with an all-day dining, a bar, banquets, a pool, a spa and a salon. It is expected to open in the first quarter 2021.

Zone Connect Port Blair will consist of 25 rooms, a restaurant, a bar, a banquet, a spa, and a pool.

Zone Connect Tirupati with 88 rooms, all day dining and banquets.

Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels Limited said, “We are delighted to launch Zone Connect under our social-catalyst brand, Zone by The Park. It borrows from the ethos of Zone by The Park in being interactive, creative and contemporary. We are excited to have signed three hotels so early on. Zone Connect will bridge the gap for quality accommodation in Tier II and Tier III cities and will give the hotel owners opportunity to grow their business with a reliable and thriving brand.”

Source

Apeejay Surrendra Park Hotels to manage the historic Ran Baas part of Qila Mubarak, Patiala as a heritage hotel

Apeejay Surrendra Park Hotels Limited (ASPHL) has announced that it has been selected by the Department of Tourism and Cultural Affairs, Punjab to upgrade and operate Ran Baas part of Qila Mubarak, Patiala as a Heritage hotel.

Qila Mubarak was built by the first Maharaja of Patiala, Baba Ala Singh in 1763. This heritage property stands in 10-acre complex in the heart of the Patiala city. The sprawling complex houses the Qila Androon (Inner Fort) or main palace, Ran Baas the guesthouse and the Darbar Hall. The majestic fort is an outstanding example of a synthesis of the late Mughal and Rajasthani architectural styles.

Ran Baas was the guest house for the Maharaja of Patiala’s guests and will now be developed into a 28-room luxury boutique hotel reflecting THE Park Hotels’ design ethos, and its quintessential hospitality experiences. The palace will have an all-day dining, bar, spa, and multiple indoor and outdoor banqueting spaces with THE Park’s anything but ordinary services. Ran Baas hotel is slated to open in 2022, post-restoration.

Priya Paul, Chairperson, Apeejay Surrendra Park Hotels Ltd. said, “I am delighted that we will bring Ran Baas back to life as a jewel-like Heritage hotel under THE Park Collection. Punjab is special for us as the roots of Apeejay Surrendra Group are in Jalandhar. We are thankful to the Government of Punjab for entrusting us to partner with them to make Ran Baas a showcase for Punjab, nationally and internationally.”

Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels Ltd. remarked, “We are honoured to add the iconic Ran Baas to our collection of heritage hotels which include THE Denmark Tavern and THE Park Chettinad. We are equally pleased that Zone by The Park, Amritsar would open in the State within a few months to cater to a new audience. We look forward to more openings and growth in the region.”

THE Park Collection has hotels in Goa - THE Park Baga River and THE Park Calangute; heritage hotels - THE Denmark Tavern in Serampore, and THE Park Chettinad.