Kerala-based Thomas Hotels and Resorts that operates hotels, villas and resorts is keen to expand its footprint by setting up new properties in Munnar and Mararikulam , Kerala. The group’s properties include the Estuary Island, Turtle on the Beach, Magic Days and leisure villas in Kovalam and Poovar near Thiruvananthapuram with a total inventory of over 150 rooms catering mainly to premium and high-end tourists.
Shaji Thomas, CMD, Thomas Hotels Group said “ The company is looking at offloading 26 per cent equity to raise private equity funding to the tune of Rs 60-80 crore, which puts the company’s valuation at around Rs 280 crore”.
Meanwhile, the company also plans to expand its existing property in Kovalam by adding new rooms. Thomas Hotels and Resorts is offering attractive tourism packages like Estuary Magic (2 nights & 3 days) , Estuary Mega Magic (3 nights & 4 days Package), among others. The flagship property of the group, Estuary Island has a total of 71 rooms in various categories and equipped with amenities like a lakeside seafood speciality restaurant, a multi-cuisine restaurant, fitness centre, gift shop, travel desk, a waterside dining deck, among others.