Financial Daily from THE HINDU group of publications
Thursday, Nov 13, 2003
Financial Daily from THE HINDU group of publications Thursday, Nov 13, 2003 |
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Marketing
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Strategy Corporate - Announcements Residency Hotel to offer service apartments Our Bureau
Chennai , Nov.12 THE Residency, a three-star hotel in T.Nagar, Chennai, plans to introduce service apartments, as part of its Rs 10-crore renovation plan. The hotel plans to convert some of its 112 rooms into a business centre and a fitness centre and three service apartments — rooms with living and dining spaces and a kitchenette — to cater to long-staying guests. The renovation will take up to 18 months, Mr K.C. Tharyan, Executive Director, The Residency Group of Hotels, told reporters today. The renovation will leave the hotel with 100 rooms, but with a new look. Mr Tharyan said The Residency was the first hotel in its category to cater to middle level managers, a strategy that has given it 80 per cent occupancies for the past 10 years. During this period, Chennai's three star hotels grew six-fold, from 196 rooms to the present 1,250 rooms. This has resulted in intense competition and is one of the reasons that has prompted The Residency to renovate. During the renovation the hotel will cut its rates by 20 per cent, with rooms available from Rs1600 to Rs 3200, exclusive of taxes. The Residency Group, which has a second hotel in Chennai, also operates hotels in Coimbatore and Bangalore and is a part of the SAS Hotels & Enterprises, an Appaswamy Group company.
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