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Tamara Leisure Experiences Pvt Ltd, a Bengaluru-based hospitality firm, said it is in the process of developing at least half a dozen hotels, including two new hotels in Tamil Nadu in addition to the just-launched Coimbatore property.
The company on Tuesday opened its new 141-room hotel property – ‘O by Tamara’ in Coimbatore. This property was acquired last year and after a complete renovation, it has launched the property under its brand. This is the first acquired property of Tamara Leisure.
Coimbatore property is the second hotel of the company in Tamil Nadu with Tamara Kodai, its 5-star luxury property at Kodaikanal, being the first one in the state.
“Coimbatore has been on our radar for a long time and this city is fundamentally strong due to its well-established manufacturing industry and educational institutions. It is a hub for several businesses and the defence corridor is also coming up in this region and the population here is also very discerning. So, These are the locations we actively look to build our hospitality brands,” Shruti Shibulal, Director and Chief Executive Officer of Tamara Leisure Experiences told businessline.
With 15,000 sq ft banqueting space, O By Tamara-Coimbatore is positioned as the ideal venue for meetings and social events. Its other amenities include O Café, an all-day dining space, and The Elevation Spa, which features a salon, steam, and sauna rooms, hydrotherapy facilities, personal lockers, and a fitness center, among others.
The company is now targeting religious centres, and tier 1 and tier 2 locations for expansion.
She said the company was in the process of developing two more greenfield properties in Tamil Nadu – a 45-room hotel in Kumbakonam and a 70-room hotel in Velankanni under its mid-market brand Lilac. The company’s total investments in its Tamil Nadu properties will be upwards of ₹250 crore.
She said pilgrimage trips held the lion’s market share of domestic tourism in the country and Tamara Hospitality is bullish on this segment.
As part of this focus, the company will start its first project in Bodh Gaya, Bihar where it has already acquired land to build its hotel. Tamara is also building hotels under the Lilac brand in Guruvayoor and Kannur in Kerala. As of now, it doesn’t see any opportunity to raise funds.
Mid to upper-midscale inventory is still inadequate considering India’s large and prospering middle class. One of the reasons for this anomaly is that the economy/budget customer is largely being served by the unbranded/non-chain affiliated hotels. In 2002, 58 per centof India’s branded hotel rooms were in the luxury/upper upscale segment vs. only seven per cent in midscale and economy, according to a recent report of JM Financial Institutional Securities Ltd.
Tamar Leisure builds hotels under multiple brands - Tamara for luxury resorts, O by Tamara for the business and leisure segment, Lilac for mid-segment, and Amal Tamara, an Ayurvedic Hospital.
It also plans to get into management contracts with existing hotel owners for its Lilac brand as it will focus on an asset-light expansion model. “We are currently in the discussion stage with some owners for management contracts,” she added.
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