Comments
Visakhapatnam-based Varun group has started work on its five-star hotel project in Vijayawada, according to the Managing Director V Prabhu Kishore.
He said in an interview that more than ₹100 crore would be spent on the hotel and “it may be completed in three years or so”. He said the group had first built a five-star hotel on the beach road — Varun Beach Novotel — here; this hotel suffered minimal damage during the recent cyclone due to precautionary measures.
“Fortunately, we weathered the storm and we did our best to provide all comforts to our guests even on the cyclone day. It is the worst natural disaster to have befallen the city at a most crucial time in its history but we will overcome it,” he said, adding that it was a blow to the tourism and hospitality sectors.
However, he said, the outlets of Varun Motors and other units of the group suffered considerable damage from Hudhud in the districts of Visakhapatnam, Vizianagaram and Srikakulam and “we estimate the loss to be ₹8.5-9 crore. We expect insurance companies to settle claims quickly.” He said the Varun Group would carry on undaunted in spite of the cyclone and contribute its mite to the relief work.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.