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Clarks Exotica Convention Resort & Spa will invest ₹300 crore (excluding land cost) to open a convention hotel near Bengaluru International Airport.
Aimed at attracting MICE (meetings/incentives/conferences/exhibitions) events and international conventions for a minimum of 3,000 people from the European and the US markets, the convention hotel is expected to be ready by 2020/21.
“We have already acquired eight acres for the convention hotel which will have 300 rooms and three lakh sq ft of enclosed convention space. This is almost four times larger than the convention space we offer at Clarks Exotica. We are making an investment of ₹ 300 crore, through debt and internal accruals. Currently we are awaiting for the final design plan from the architects” said Balaji, CEO of Clarks Exotica Convention Resort & Spa, Bengaluru.
‘Growing demand’
On a recent visit to Zurich, Paris, Geneva and Brussels, he met up with nearly 120 associations and event management companies. “The growing demand for South India, Bengaluru in particular, from these associations and event management firms is robust.
They prefer to host international conferences for a minimum of 3,000 delegates and large MICE events in Bengaluru for two reasons — because it’s a young IT city that is growing rapidly and has pleasant weather all round the year” said Balaji.
Unique features
Spread over 70 acres, Clarks Exotica Convention Resort & Spa opened in 2007 with 21 rooms, has grown to 141 rooms at present and will add 34 rooms in six months.
MICE business contributes 55 per cent to its overall business, social events such as weddings, anniversaries, birthdays etc contribute to 10 per cent, family weekend getaways contribute 15 per cent and the rest is from independent travellers and airline crew.
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