Financial Daily from THE HINDU group of publications
Friday, Oct 08, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 08, 2004 |
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Corporate
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Outlook Taj Bengal sees more room for growth Our Bureau
Kolkata , Oct. 7 THE Tata group's 229-room Taj Bengal hotel here, on its 15th anniversary, is optimistic about the growth of " high-end" hotels in the city with the surge of demand for rooms from corporate travellers. The hotel management has thus decided to make fresh investments to add new services and facilities as to maintain its number one position in such category of hotels in West Bengal. The General Manager of Taj Bengal Hotel, Mr Sanjay Sinha, told presspersons here on Thursday that the overall situation of the local hotel business appeared highly competitive even a year ago with the beginning of operations by two new high-end hotels such as ITC Sonar Bangla and Hyatt, with a combined capacity of about 470 rooms. The new room capacity put existing high-end hotels such as Taj Bengal and Oberoi Grand in a tight spot. These two existing hotels had about 440 rooms. It was anticipated a year ago that the occupancy rate would fall drastically with the addition of new room capacity. But the scenario had changed in recent times following the West Bengal Government's introduction of an investor friendly proactive industry policy. Such a policy helped build up a good business opportunity for local hoteliers. In fact, more corporate travellers started coming to the city, thereby yielding good business to all the four high-end local hotels. Mr Sinha said that Taj Bengal with an occupancy rate of about 73 per cent earned a business of about Rs 44 crore in 2003-04, while the management is confident of achieving a business target of about Rs 52 crore during the current fiscal, riding on the increased demand for rooms in high-end hotels. Incidentally, non-high-end hotels in the city are at present operating with an average occupancy rate of about 59 per cent. Mr Sinha said that the hotel management has planned to celebrate the 15th anniversary by organising a special event on October 10, which will be followed by a musical performance. The proceeds of the performance will go to a cancer initiative by Tata Memorial Hospital.
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