Maldives' Atmosphere Core signs 30 India hotel projects, bets ₹1,000 cr on leisure play
Atmosphere Core is pivoting from Maldives-only to India's leisure circuit with ~30 asset-light management contracts spanning Goa, Rajasthan, Odisha and the Northeast, plus three owned developments in Mussoorie, Puri and Kannur. The chain targets ADRs of ₹40,000-60,000 and 45%+ operating margins as domestic RevPAR rises 9-11% YoY.
Maldives-based Atmosphere Core has signed nearly 30 India hotel projects via asset-light management contracts, targeting leisure destinations across Goa, Rajasthan, Odisha and the Northeast, with three direct ₹1,000 crore developments in Mussoorie, Puri and Kannur.