Financial Daily from THE HINDU group of publications
Tuesday, Mar 29, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 29, 2005 |
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Industry & Economy
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Hotels GRT plans chain of business hotels Ajita Shashidhar
A View of the GRT Grand hotel in Chennai.
Chennai , March 28 GRT Hotels and Resorts plans to open four-star business hotels in Hyderabad, Bangalore and Coimbatore under the brand GRT Grand. Speaking to Business Line, Mr T. Natarajan, CEO, GRT Hotels and Resorts, said the group's focus would be to offer five-star warmth at four-star prices. "We want to project the GRT Grand brand as a value-for-money chain of business hotels." He said that the expansion plans are at a nascent stage as they are still scouting for land. "Apart from setting up our own properties, we are also open to entering into operating agreements with other hotels," he said. The group is also looking at promoting its Indian restaurant, Copper Point, in addition to setting up new properties. "Copper Point has been a great success at our hotel in Chennai, therefore, the Indian restaurant at all our new properties would be branded Copper Point." Mr Natarajan also mentioned that the group has tied up with Hindustan Lever to set up the Ayush Ayurvedic Therapy Centres at all its properties. "Also available would be the Business Bay lounge, an exclusive area for our residential guests to entertain their business associates." Though GRT Grand would be the group's immediate focus, Mr Natrajan also said that they might also look at acquiring new leisure properties. The GRT group at present has one leisure property at Mahabalipuram, GRT Temple Bay, and "is marketing it with affordable packages and food and beverage offers". Mr Natarajan said that the hotel industry in India is on an all-time high. "While the occupancy rates of business hotels are averaging 70-80 per cent a year, the occupancy rates in the leisure hotels are averaging between 40-60 per cent," he said.
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