Business Daily from THE HINDU group of publications
Thursday, Jul 31, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jul 31, 2008 ePaper | Mobile/PDA Version | Audio |
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Marketing
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Strategy Phoenix Group plans Rs 2,000-cr expansion R. Ravikumar Chennai, July 30 Phoenix Group, a Rs 1,500-crore conglomerate with varied business interests including hotels, real estate and floriculture, has drawn up expansion plans involving an investment of up to Rs 2,000 crore in the next two years. The group, promoted by a group of NRIs in West Asia, is planning to expand its hotel network in India from the current three to eight in the next two years. According to Ms Priti Chand, Director, Phoenix Group, the company’s operations have been in existence since 1999, when it commenced its first hotel project — Radisson White Sands Resort in Goa. Later, it developed two hotels — Radisson Plaza Resort & Spa at Kumarakom in Kerala and another property — Country Inns & Suites by Carlson in Goa. The group’s all three properties in India are under franchise agreements with Carlson Hospitality, she said. The group also has two hotels at Mombasa in Kenya and London. “We are now planning to expand our footprint here with five more hotels,” says Ms Chand. Its first project in Bangalore — a five star business hotel at Whitefield — is scheduled to be launched soon. It has also procured land adjacent to the new Bangalore airport at Devanahalli and is in final stages of negotiation for land on Old Mahabalipuram Road in Chennai for four-star hotels. “We also intend to venture into other tier II cities such as Kochi, Nagpur, Ahmedabad and Vizag,” she said. More Stories on : Strategy | Hotels
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