Sun Estates Developers Launches Ambitious INR 1000 Crore Hospitality Venture in Goa

Sun Estates Developers is expanding into the hospitality industry in Goa with plans to invest ₹1000 crore in a series of hospitality projects. This initiative builds on the success of their recent ventures, including the acquisition of the esteemed Astor’s hotel.

Expansive Hospitality Project Details

The company is excited to announce the launch of 500 keys in branded all-suite service apartments, signaling the start of a larger plan that includes the development of seven hotels across North Goa. Each hotel will boast between 75 to 80 keys and will be located within 800 to 900 meters of the beach.

Amenities and Operations

All hotels in this expansive project will feature outsourced restaurants, spas, and gyms, and will be operated by major branded hotel chains with extensive distribution networks. The service apartments, designed by international architects, will provide units ranging from 800 to 850 sq ft, combining space and comfort for guests. These units will be available for purchase, offering attractive rental agreements spanning 20 years to ensure continuous revenue for investors.

Boutique Mansions and Luxury Hotels

In addition to the service apartments, Sun Estates plans to introduce 10 boutique mansions, each featuring 20 to 25 keys with world-class personalized services, set against Goa’s stunning backwaters, ocean views, salt pans, and paddy fields. Managed by renowned boutique hotel operators, these mansions will offer an exclusive luxurious experience, with select rooms featuring private swimming pools, jacuzzis, and terraces. The portfolio expansion will also include 300 keys of five-star luxury hotels, each providing state-of-the-art amenities like ballrooms, gyms, spas, and a casino, designed to offer an unparalleled luxury experience.

Innovative Land Acquisition and Investment Opportunities

Sun Estates is exploring innovative approaches for land acquisition for these projects, including the creation of project-level special purpose vehicles (SPVs) where investors can participate directly. Sun Estates will manage these SPVs to ensure efficient execution and maximize returns for all stakeholders.

Project Timeline and Expected Revenue

With an estimated completion timeline of 36 to 40 months, these projects are expected to generate revenues of ₹300 crore in their first year of operation. Suraj Morajkar, MD of Sun Estates Developers, expressed confidence in setting new benchmarks in luxury hospitality and enhancing Goa’s status as a premier tourist destination.

Investment and Strategic Growth

The company is in advanced talks with investors and is evaluating proposals for raising funds. This commitment to securing strategic investments is a testament to Sun Estates’ dedication to fostering growth and innovation in Goa’s hospitality and tourism sectors.
Legacy of ExcellenceSun Estates Developers is known for its history of delivering exceptional properties, including notable projects like the Hilton Resort and Sol De Goa, further cementing its reputation in the real estate market.