Business Daily from THE HINDU group of publications
Tuesday, Sep 12, 2006
ePaper
Business Daily from THE HINDU group of publications Tuesday, Sep 12, 2006 ePaper |
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Marketing
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Strategy Industry & Economy - Hotels Unison Hotels to diversify into South Our Bureau
New Delhi , Sept. 11 Unison Hotels, that owns the Grand Hotel here, is to diversify into South India with five star hotels planned in Hyderabad, Chennai, Bangalore and Mumbai, the Group Managing Director, Mr Umesh Saraf, has said. "The company has recently acquired two acres of land in Hyderabad on which we shall build not only a five star hotel but also service apartments. In addition, negotiations are going on for land in all the other cities and we are likely to find land faster in Chennai and Bangalore than in other cities. We have set aside Rs 1,000 crore for projects in these cities," Mr Saraf said.
Hyderabad project
The Hyderabad project, which should be operational by the first quarter of 2008, would see the group offering 200-225 hotel rooms and about 175 service apartments. "We are yet to finalise whether the Hyderabad property should be branded as a Grand or a Hyatt. A decision on this will be taken in the next six months," Mr Saraf added. Unison Hotels has a substantial stake in Asian Hotels Ltd, which owns Hyatt Regency hotels in Delhi, Mumbai and Kolkata. The investments for the hotel projects would be garnered through internal resources or funding from banks, Mr Saraf said. "We are keeping all our options open. Funds are easily available at the moment. Right now, we have no plans of tapping the markets for funds," Mr Saraf added. The group is hopeful of completing all the projects in South India in the next there years, after which it would focus on setting up hotels in Pune, Chandigarh and Kolkata among others.
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