Goa, a leading tourism destination in India, is known for its sandy beaches, places of worship and vibrant nightlife. Credit: kosmos111 via Shutterstock.

Bengaluru-based hospitality company Ferns Estates has expanded its presence in the Indian hotel sector with the acquisition of a 75-room luxury hotel in Goa for Rs1.75bn ($21m).  

The transaction also includes a two-acre plot for the development of an additional 75 suites, indicating the company’s anticipation of strong demand for luxury accommodations. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Ferns Estates, which operates under the Rosetta Resorts and Holiday Homes brand, has secured an Rs1.50bn project loan from Bajaj Finance for ten years to fund this acquisition. 

Rosetta Resorts and Holiday Homes chairman and managing director Errol Fernandes expressed optimism about the deal, stating, “This move is expected to boost the company’s profitability in the long term.”  

The company has ambitious plans to expand its resort portfolio by adding around 1,000 rooms over the next three to five years, with potential properties already identified in various locations. 

This strategic expansion is aimed at increasing the company’s capacity to cater to a wider range of travellers and to strengthen its market position.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Fernandes highlighted the importance of acquiring lease and company-owned properties to enrich the asset portfolio.  

Since entering the hospitality sector in 2018, Ferns Estates announced plans to invest Rs7bn over the following three years to construct five resorts in Karnataka and Tamil Nadu. 

A leading tourism destination in India, Goa is known for its sandy beaches, places of worship, vibrant nightlife, and World Heritage-listed architecture.  

The state has seen a significant influx of visitors, with government officials reporting ten million tourists from March to December of the previous year.  

In a related development, Indian Hotels Company subsidiary Roots Corporation announced plans earlier this year to open a new Ginger hotel near Manohar International Airport in Goa, having signed a 60-year sub-licence agreement with GMR Goa International Airport.