Monday, January 18, 2010

Realty cos check into service apartments

Good times have rolled in for globe-trotting executives. As business travel is picking up, the hospitality sector is back on its feet after a hiatus. The rebound in corporate bookings has put a raft of service apartments back in green. A clutch of realty players in Bangalore are looking to add more keys cashing in on this demand.

According to real estate consultancy Cushman & Wakefield’s hospitality report, service apartments are 20% cheaper vis-à-vis hotels for long stays.

dnaindia.com

Monday, November 23, 2009

Pune’s major hotel projects hit recession roadblock

"Pune is essentially a business center and not a tourism-driven market, so luxury hotels have hardly any takers.

For years Pune managed with four-luxury hotels with a maximum of 800 rooms.

Now suddenly 7,000 rooms were planned. How can it sustain?," Mr Ravi Varma, broker and real estate consultant
1) Leela Group - the plan now stands scrapped and the land has been put up for sale

2) Intercontinental from the Lalit Suri group that was to have come up at Market City on Ahmednagar Road

3) Marriott by the Panchshil Group. Work on the Hyatt Regency is underway, but the project is clearly delayed.

4) Novotel from French Group Accor has been deferred

5) Hilton and Four Seasons, who were in talks with the Cyrus Poonawala group for a business hotel, seem to have dropped plans at least for the moment.

6) Radisson, a project by Runwal Developers is said to be up for sale.

The Avinash Bhosale group is launching the city’s first Westin hotel early next month. A couple of JW Marriotts, one Holiday Inn, a Dawnay Day and a Radisson are among those poised to venture into this territory

To read more, please, visit Pune’s major hotel projects hit recession roadblock

Monday, November 9, 2009

‘Ibis Pune’ opened

IBIS, the international economy hotel brand of Accor, forayed into the city recently.
Ibis Pune has 175 well- equipped guest rooms with en suite modular bathrooms, a contemporary fit-out including flat screen TV, wi-fi and broadband Internet access to suit the needs of both business and leisure travellers. Ibis Pune will provide round-the-clock reception, value accommodation and food and beverage services to visitors to Pune, said a press note.

Duet Hotels to invest Rs 2,300 crore

Duet India Hotels, a Delhi-based real estate investment company with interests in the development of hospitality assets in India, will invest $500 million (Rs 2,300 crore) over four years to build 5,000 hotel rooms in the country
. The company, which will invest in both mid-scale and entry 5-star (as opposed to luxury 5-star, another sub-segment) properties, has tied up with New York-based Starwood Hotels & Resorts Worldwide to develop its hotels, to be run under the brand name of Four Points by Sheraton.

Likewise, Duet aims to join hands with other international hotel players to launch their brands in the country. It is thus in talks with a host of hotel chain operators.

The company currently has five projects under development, which includes a 115-room hotel in Jaipur, a 223-room one in Pune, a 124-room hotel in Ahmedabad, a 200-room hotel in Indore and a 220-room hotel in Hyderabad.

In addition, the company is in talks with hotel management companies for setting up a 320-room hotel in Bangalore, a 100-room hotel in Nashik and a 110-room hotel in Ludhiana.

Sunday, November 8, 2009

Hospitality industry voices concern over new norms laid down by the tourism ministry for obtaining or continuing star ratings

The industry has primarily expressed reservations against some of the criteria on which hotels will be star rated, such as designated parking facilities, sewage treatment plants, x-ray checking machines and high percentage of skilled staffs.

CCTVs, compulsory CFC refrigeration and mandatory swimming pool for five-star hotels as outlined under the new guidelines are the other areas where the hotel fraternity has expressed its reservations.

The ministry has issued a deadline of September 1, 2010 to implement the new norms.
To read more, please, visit The Times of India