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Oberoi group plans new properties ITC’s luxury hotel in Bangalore KOLKATA: Three southern States — Tamil Nadu, Andhra Pradesh and Karnataka — have become attractive destinations for hotel projects and an estimated investment of Rs. 4,000 crore is set to flow into these three States in the next five years. In fact, the country’s largest hotel is coming up in Chennai, work on which will begin in a month. This is ITC’s first greenfield project in the State, according to Nakul Anand, head of ITC’s hotel business. Of the Rs. 4,500 crore investment announced by P. R. S. Oberoi of the Oberoi group of hotels and resorts, a significant proportion would be spent on setting up new properties in the South. Out of the five hotel projects lined up for opening by the group by 2009, three are in the South — two in Bangalore and one in Hyderabad. This would add not only rooms but also serviced-apartments, a relatively new concept which targets the long-stay corporate client. The ITC group, which is focussing on its hotel business in a big way is setting up a luxury hotel in Bangalore, besides the one in Chennai. The Tatas too have their plans for this region. An official of the Hotel Association of India, the industry apex body, said that from the tourism point of view, the South had very rich potential and was a popular destination. According to Mr. Anand, the presence of a metro and two semi-metros like Bangalore and Hyderabad did enhance the lure of the southern region as a good business proposition for hoteliers. “Infrastructure in this region has developed very well, with the IT and the IT-enabled service segments such as call centres, as well as the automobile industry are generating a higher demand for hotel rooms,” he said. Rs. 1,000 cr. project Elaborating on the new hotel in Chennai, which will be called ITC Grand Chola, Mr. Anand told The Hindu that this would come up on an eight-acre plot in Guindy on the former Campa Cola land. Construction was expected to start within a month. “We are trying to better the industry norm of 36 months,” he said. The Rs. 1,000-crore project will have 550-deluxe rooms. The project also encompasses 100 service apartments, retail space, besides conference and exhibition facilities. This is ITC’s first greenfield hotel project in Chennai from where it started its hotels business in 1975 with the acquisition of the Chola Hotel. source: The Hindu;Indrani Dutta | Daily Extras! Eclat Me | Success Tip of the Day| 1DailyDiversion| Eclat Web - Must Visit Websites! A Beautiful Pic Every Day! Word of the Day| Quotation of the Day| Make Money! Immigration News! Desire- WOW Stuff! Stock Mkt Updates |
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