Financial Daily from THE HINDU group of publications
Thursday, Jul 01, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 01, 2004 |
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Corporate
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Announcements Indian Hotels' serviced apartments to open soon Our Bureau
Mr Raymond Bickson, Managing Director, IHCL, addressing a press conference in the Capital on Wednesday. — Kamal Narang
New Delhi , June 30 INDIAN Hotels Company Ltd is to open its first serviced luxury apartments in Mumbai this September, the company's Managing Director, Mr Raymond Bickson, said on Wednesday. The 80 luxury apartments, called `Taj Wellington Mews,' is to open at Colaba in South Mumbai. Addressing a news conference here, Mr Bickson said the group is also taking the initiative to launch eco-tourism and the announcement is expected shortly. Further, the group plans to open 150 indiOne hotels in the country within the next three to five years. The group recently launched its maiden indiOne hotel in Bangalore with a tariff under Rs 1,000. The hotel offers two rates: rack and best. The best rates, which are marginally lower than the rack rates, are available only if the reservation is made through the Web site, www.indionhotels.com. The group plans to roll out about 1,500 indiOne rooms in various cities, including some in South India, trading zones in North India and also in pilgrim areas over the next 12 months. Officials, however, felt that it would be difficult to talk about the quantum of funds that would be required for the proposed hotels as various financing models are being used. "We plan to build and own the first few indiOne properties. However, we are not ruling out looking at the franchise concept," senior company officials said.
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