Hospitality player Crossway Hotels & Resorts will soon start managing a mid-segment beach resort near here and targets to have about 10 hotel properties under its brand by the end of this year, said a company official.
"The beach resort property is located near the famed Mamallapuram known for the rock sculptures. As per discussions that were finalised, we will start managing the property from next month onwards. Formal announcement will be made soon," Yangya Prakash Chandran, Founder and CEO, Crossway Hotels told IANS.
Though that stretch has big names like Radisson Blu, Inter-Continental, Sheraton Grand, Four Points by Sheraton and others, there is good space for mid-scale property, Chandran added.
According to Chandran, the company will be adding a 30-room hotel under its Crossway Hub brand near here.
"The Crossway Hub property will be functional towards the end of next year. We are flexible in terms of branding. We are also open for soft branding of properties," Chandran added.
Speaking about the hospitality scene on the Old Mahabalipuram Road (OMR) where several new star hotel properties have come up in the recent times, Chandran said: "The scene is slightly volatile with the addition of more rooms."
According to him, there will be about 3,000 star hotel rooms on the OMR stretch apart from the unorganised players.
"Several big brands have started quoted low rates so as to keep their rooms occupied and to meet the fixed costs. This is a challenge for properties like Days Hotel," Chandran said.
On the other hand, hoteliers near the Chennai airport are happy with their occupancies and the room tariff.
According to Chandran, the 32-room Crossway Parklane Hotel near the airport is having good occupancy rate and does not have pressure on room tariff.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)