Leelaventure to invest $500 mn in expansion
Hotel Leelaventure will invest 500 mn dollar for development of luxury properties in upcoming markets over the next three-year period, a top company executive said.
By PTI |
MUMBAI : Hotel Leelaventure will invest 500 mn dollar for development of luxury properties in upcoming markets over the next three-year period, a top company executive said.
The expansions would be kick-started with the opening of the Leela, Kempinski in Gurgaon in November 2008 followed by the Leela Palace Kempinski in Udaipur, Leelaventure's Chairman C P Krishnan Nair said here.
The Leela Palace, Udaipur, is scheduled to be operational from January 2009, he said, adding that the Leela Palace, Kempinski Chennai, with an adjoining Business Park is also scheduled to be opened in 2009.
The Leela, Kempinski, Pune and Hyderabad would be operational by 2012, he said.
"The Leela Palace, Kempinski New Delhi, is scheduled to be built by 2010 in time for the Commonwealth Games," Nair said.
Investments would also be made to refurbish and upgrade its existing hotels, Nair said.
The company also plans to increase its room tariffs by 10 per cent from October, this year owing to the rising food prices.
When asked about the several foreign companies entering the domestic hospitality market, Nair said that the market could get affected negatively as many of these companies "are not from a hospitality background."
The expansions would be kick-started with the opening of the Leela, Kempinski in Gurgaon in November 2008 followed by the Leela Palace Kempinski in Udaipur, Leelaventure's Chairman C P Krishnan Nair said here.
The Leela Palace, Udaipur, is scheduled to be operational from January 2009, he said, adding that the Leela Palace, Kempinski Chennai, with an adjoining Business Park is also scheduled to be opened in 2009.
The Leela, Kempinski, Pune and Hyderabad would be operational by 2012, he said.
"The Leela Palace, Kempinski New Delhi, is scheduled to be built by 2010 in time for the Commonwealth Games," Nair said.
Investments would also be made to refurbish and upgrade its existing hotels, Nair said.
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The company also plans to increase its room tariffs by 10 per cent from October, this year owing to the rising food prices.
When asked about the several foreign companies entering the domestic hospitality market, Nair said that the market could get affected negatively as many of these companies "are not from a hospitality background."
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