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May 25, 2001
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Money > Business Headlines > Report May 25, 2001 |
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Lokhandwala plans 2 hotels in Lonavala, BangaloreBS Corporate Bureau Lokhandwala Hotels, the owners of Regent Bombay, is planning to build two new hotels at Lonavala, near Pune, and Bangalore. The company is also eyeing other metroes, especially New Delhi and Madras. "Lokhandwala hotels will be constructing two new hotels in Lonavala and Bangalore for which the land has already been acquired. The hotels are likely to come up within the next five years," Regent Bombay vice-president and general manager Yogesh Dhawan said. He said the upcoming Bangalore project would be a super deluxe hotel, whereas the Lonavala project would be a four-star resort. He added that Regent Bombay would also see some new additions like mall-cum-commercial complex and service apartments. He, however, declined to elaborate on the investment plans for the upcoming projects but felt that investment in the Bangalore project would be similar to that in Regent Bombay, which is about Rs 5 billion. Speaking on the occasion of a strategic tie-up between Regent Bombay and Carlson Hospitality Marketing India Pvt Ltd to provide reservations, sales and marketing support to the Regent, Dhawan said Regent was eyeing a turnover of Rs 1 billion this fiscal as against Rs 580 million last fiscal. He said the hotel was likely to break even within three years. Dhawan said the US slowdown would affect the company by about 10 per cent and added that other sectors like investment banking would make up for the shortfall in demand from the information technology firms. There will be an adverse impact of the ongoing Enron scuttle since Enron and Dabhol were its major clients. CHMI's managing director Pankaj Kodesia said in the Bombay hotel scenario, where supply is exceeding the demand, the new tie-up is very important as CHMI will be taking care of business and marketing plans of Regent Bombay besides its performance monitoring. Elaborating on Carlson's expansion plans, Dhawan said the group was planning to focus on its mid-market brand -- Country Inns and Suites -- the first of which is slated to open at Katra in July. About 10-12 such Country Inns and Suites would be launched within the next two years. The Carlson group owns the Regent International hotels, Radisson hotels & resorts worlwide, Country inns and suites and TGI Friday's. Powered by YOU MAY ALSO WANT TO READ:
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