The Park Hotels, managed by the Apeejay Surrendra group, is planning to open its second hotel soon in Bangalore at an investment of about Rs 250 to Rs 300 crore (Rs 2.5 billion to Rs 3 billion), said a top company official.
Also, it is eyeing properties in Kerala and Pune. The ongoing projects at Navi Mumbai and Hyderabad will be ready in one year, the officials added.
"We are waiting for conducive atmosphere to embark on the Bangalore project. We are looking for a site near Whitefield on the outskirts of the city for the 300 room luxury hotel," said Lemuel Herbert, general manager, The Park, Bangalore.
He said the occupancy rate of The Park, Bangalore was over 85 per cent and during weekends, the occupancy reached its peak.
"Since Bangalore is not a tourist destination, most of our clients are corporate clients and we get an overwhelming response particularly during the weekends. During the rest of the week too, the occupancy is quite high," Herbert added.
The first hotel in Bangalore, opened in 2000, was the fourth hotel of the group, which runs five hotels in Kolkata, Visakhapatnam, New Delhi and Chennai. At present, a 80-room hotel is under construction in Navi Mumbai which is expected to be opened by the end of this year.
This will also house a hospitality education academy for management training programme and professional programme for hospitality sector.
Besides, the group will open its first hotel in Hyderabad, which will have about 240 rooms along with shopping malls and hotels. According to Herbert, the hotels are expected to be opened during the early part of 2008.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
© 2025