Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel
April 13, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Weather | Wedding | Women Partner Channels: Auctions | Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report April 13, 2001 |
Feedback
|
|
|
Taj plans budget hotelsReeba Zachariah The Tatas-controlled Taj group, which recently restructured its hotels into three categories -- luxury, business and leisure -- is now planning to make a foray into a new category, that of budget hotels. The proposed foray would, however, be through an entirely different brand as the group feels the equity of Taj's premium tag could get eroded if associated with budget hotels. Even the Oberoi group has forayed into the budget category through a new brand, Trident. Patu Keswani, chief operating officer (business hotels group) of Indian Hotels Company said, "Budget hotels will be the fastest growing sector and will attract better growth rates in the next few years." The team involved with the project has suggested various brand names that have been shortlisted for budget hotels and will zero in on a suitable brand name shortly, Keswani added. "We have put in the proposal relating to various brand names and the board's approval is awaited," he said. The move to get into budget hotels is to get into smaller towns where it will be able to muster a larger customer base. Explaining the rationale behind the move, Keswani said, "The budget hotels will be premium in class and quality and economical in cost. It will be targeted at business travellers." According to analyst with a foreign broking house, "The move will enable Indian hotels to achieve a higher topline growth while the bottomline will be driven by its chain of five star hotels in the country and abroad." As part of its expansion plans, Indian Hotels is looking at acquiring properties in Madhya Pradesh, Assam, Karnataka, Gujarat and Andhra Pradesh. In Gujarat, the Taj group has a 20-year management contract with the Royal Manor Hotel and Industries for its five star hotel, Softel Ummed in Ahmedabad. However, it does not own property in Gujarat. Powered by ALSO READ:
|
||||
