The Hyderabad-based Minerva Group is all set to add two more hospitality properties, one in the IT hub of Hyderabad and another in the temple town of Tirupati.
Mr Bhaskar Kommu, Group General Manager, Minerva Grand, said “both these properties, which have been developed with an investment outlay of about Rs 16 crore, will be ready for commissioning in May 2012.”
The Group, part of the promoters of Viceroy Hotels, which manages five-star properties in partnership with Marriott, had started in a small way with Blue Fox restaurant, Palace Heights and Minerva Coffee shops. It now has a chain of these across Hyderabad and Vijayawada.
“We later set up hospitality projects along with these coffee shops and multi-cuisine restaurant chains. We currently have two properties at Hyderabad and Vijayawada and expect to add two more later during the year. We are also looking at setting up more hotels as a part of the expansion,” he said.
Addressing a press conference, Mr Bhaskar Kommu said for Minerva, which is celebrating its 25{+t}{+h} anniversary, it is time to consolidate business and enter into catering services. All requirements for quality food for small and big occasions are just a phone call away, he said.
The budget hotel segment where Minerva operates is generally doing well compared to five and four star projects in Hyderabad. The value proposition keeps the numbers up in Hyderabad at about 70-75 per cent in spite of agitation, as against 55-60 per cent for four and five star hotels, he said.
Referring to the mega biodiversity summit to be held here in October, he said, “We have kept aside about 50 per cent of the hotel rooms for the event,” he said.