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Our Bueau

Chennai April 18 Fortune Chariot Beach Resort has come up at Mahabalipuram.

Located adjacent to `Pancharatas' (five chariots), the Rs 38-crore seaside resort, spread over 40 acres, was launched by Hotel Radha (P) Ltd and would be managed and maintained by Fortune of ITC Welcome Group, according to Mr T.M. Venkatraman, Chairman, Fortune Chariot Beach Resort.

The resort has 34 sea facing rooms and 36 cottages, conference halls and a swimming pool that is 57 metres in length and 15 metres in width, he told newspersons.

Funding details

Hotel Radha's promoters, who are involved in textile business, have invested Rs 20 crore and the rest has come from bank funding, he said. The arrangement with Fortune is for a period of 10 years and can be renewed. Fortune would be paid based on the revenue earned.

Mr Venkatraman expects revenue of around Rs 18 crore in the first year, and the resort would have around 70 per cent occupancy in a year. Other than the room tariff, rent from conference halls would be a major source of revenue, he said.

Holiday package

The resort is offering a special summer holiday package to encourage domestic tourism that ranges between Rs 12,999 and Rs 18,999, says a company press release.

More Stories on : Resorts & Amusement Parks | Tamil Nadu

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