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Monday, Oct 21, 2002

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Variety - Resorts & Amusement Parks

Dev group sets up Shelter beach resort

Our Bureau

CHENNAI, Oct. 20

SHELTER Beach Resort, a three-star beach property along the East Coast Road (ECR), is targeting conferences and incentives market.

Set up at a cost of Rs 4.5 crore, this is the second hotel set up by the Dev Group of companies.

According to Mr P.G.Venugopal, Chairman, Dev Group, the funding is through debt and internal accruals.

The company has borrowed Rs 83 lakh from Indian Bank for this project, he said.

Besides three conference rooms, the resort has five cottages, 32 rooms and 4 poolside cabanas.

The resort has a swimming pool, health club, permit room and restaurant.

The company's first hotel is situated in Mylapore and is in the three-star category.

The Dev Group, which has interest in real estate, has around 41 lakh square meters built up space.

Besides this, the group has a presence in two wheeler dealerships — Lakshmi Motors for Yamaha and Easwari Motors for Kinetic Honda.

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