Grand Continent to launch its first overseas hotel in Dubai
'It is a 125-room facility. It is our first international property. We will be launching it in three months in Dubai,' he told reporters.
The Bengaluru-headquartered company has drawn up plans to open 4 more hotels in the country as it targets to operate 5,000 hotels by 2028, Grand Continent Hotels and Resorts Chairman and Managing Director Ramesh Shiva said.
Chennai, Jun 28 (PTI) Hospitality service provider Grand Continent Hotels and Resorts Ltd is set to make its first overseas expansion with the launch of a hotel in Dubai, a top official said here on Saturday.
Shiva, a hospitality industry veteran, on Saturday inaugurated the 22nd property, a 72-room capacity hotel 'Grand Continent Premiere T Nagar' at Thirumalai Pillai Road in Chennai.
Each room measuring 28 sq mts to 48 sq mts would be targeting travellers of both business and leisure. It is equipped with a rooftop swimming pool, multi-cuisine restaurant, unwind bar, state-of-the-art boardroom among others.
On the capital expenditure made for the new property, he said for a property like this T Nagar hotel, the investment would be around Rs 7-8 lakh per room. 'I would say about Rs 5-6 crore will be the capital expenditure for this facility', he said.
Commenting about the future expansion plans, Shiva said they have planned to open a 42 room capacity hotel in Dwaraka, Gujarat (42 room capacity hotel), a-82 room capacity hotel in Jaipur, Rajasthan, 92 rooms in Ayodhya, Uttar Pradesh and a 35 room facility in Gurgaon.
The launch of these hotels would happen in 2025 and 2026, he said.
To a query, he said the company would open hotels in Sri Lanka and Dubai. 'Domestic market will be our strong market. We will also have properties in Sri Lanka and Dubai,' he said.
In Dubai, initially it would be a property managed by Grand Continent Hotels and after three months it would become a 'leased property' in line with the company's strategy.
Nearly 75 per cent of the customers come from the corporate segment while 20 per cent would be leisure and the remaining account for people going on pilgrimage to places like Tirupati or Ayodhya, he noted.
Currently, Grand Continent Hotels Ltd has a portfolio of over 1,000 rooms spread across 21 properties in 10 cities. PTI VIJ VIJ ROH
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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