Oriental Hotels to go for renovation, expansion

Oriental Hotels Ltd is planning to invest around Rs 160 crore over the next two years in renovation and upgradation of projects.

At the Taj Coromandel, Chennai, the company will undertake renovation of 113 rooms and at Taj Fisherman’s Cove, on the East Coast Road near Chennai, the company will get 88 renovated and refurbished rooms and cottages and a brand new Jiva spa.

The company is also planning for renovation of rooms and food and beverage (F&B) facilities has also been undertaken at the Gateway Hotel in Visakhapatnam. In addition, the company recently acquired a 126-room completed property in Thiruvananthapuram, as part of the Upper upscale hotels.

 

The company has invested Rs 178 crores over the last couple of years to fund its ongoing renovation and expansion across properties.

Oriental Hotels has extensive plans to expand its footprint across southern India over the next 5-6 years. The company plans to make a debut in Coimbatore with Taj property with 180 rooms by 2011. The company also has plans for a 200-room Gateway Hotel in Bannerghata, Bangalore.

D Varada Reddy, managing director, Oriental Hotels Ltd, said OHL would focus on growing and expanding its business in critical markets across India.

“Our proposed properties in Coimbatore and Bangalore are a step in that direction. Our existing land bank renders immense potential and flexibility to our growth plans. We will unlock this at an opportune time. With demands beginning to return and occupancies coming back, we are confident of converting opportunities successfully,” he said.

Oriental Hotels Limited is a public listed company and hotel units of the company include Taj Coromandel, Chennai, Taj Fisherman's Cove, Chennai.