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Anjana Chandramouly

It has entered into a 20-year agreement with Pune-based builders Vascon Engineers to manage the apartments.

Bangalore April 26 Thanks to the skyrocketing demand within the hospitality industry and spiralling tariffs for luxury hotels, serviced apartments have emerged a cost-effective alternative for business travellers and tourists.

Leading hospitality brands are entering this segment, especially in cities like Bangalore, where there is adequate demand.

Bangalore-based Royal Orchid Hotels Ltd (ROHL) plans to launch its standalone serviced apartment project — with 72 units — in Pune next week. It has entered into a 20-year agreement with Pune-based builders Vascon Engineers to manage the apartments.

"We plan to manage serviced apartments across India," said Mr Chender Baljee, Chairman and Managing Director, ROHL.

Expanding services

The hotel chain also plans to launch serviced apartments in Bangalore, in addition to the existing units on the fourth floor of its Hotel Royal Orchid.

ROHL also plans to expand its Royal Orchid Central brand to Pune (120 rooms) and Hyderabad (65 rooms).

Both will belong to the four-star category, Mr Baljee said. Plans are afoot for Mumbai and Delhi; the chain is also looking at Chennai, "though nothing has been finalised yet," he added.

The outlook for the year ahead is very good, Mr Baljee said, adding that the hotel chain's occupancy rate was has been pretty good in for the previous year.

More Stories on : Hotels | Real Estate & Construction | Maharashtra

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