Concept Hospitality Group, which runs a chain of properties across the country, today announced the launch of Manasarovar The Fern, a five-star property in central business district of Hyderabad near the old airport overlooking the picturesque Husain Sagar lake, and outlined plans to set up three more hotels by next year.
The company which runs properties under the brand name of The Fern, the five star range and The Fern Residency, its three star category hotels, as a hospitality chain manager, is set to launch new projects at Visakhapatnam, Chennai in March next and Kochi by December, according to Mr Ashish Salian, General Manager of the Mansarovar The Fern.
Speaking to journalists after introducing the property to be launched later this month formally, Mr Salian said that the promoters of the property, the Bhagyanagar Hotels, invested about Rs 40 crore on the project. The property, which has two large banquet halls, would feature a five-storey parking area adjacent the hotel property.
The project is located adjacent the popular Chiran Fort Club. Concept currently has an inventory of 1,090 rooms and expects to add another 1,000 rooms over the next three years.
Of this, about 350 rooms are being added through projects in Vizag, Chennai and Kochi, he said.
Referring to the market conditions he said that Hyderabad holds promise.
While most cities have hotel room versus food and beverage business in the ratio of 60;40, the city throws up interesting data.
It has an occupancy versus F&B ratio of 50:50. That augurs well for business, which includes a lot of banqueting, he said.
The tariff card for this 102 room property starts with a price tag of Rs 6,000 onwards.
It has been certified as an Ecotel property for its environment-friendly initiatives.