THE BOOMING hotel industry in India seems to have caught the fancy of major retail players. After the homegrown Future group, which recently announced its foray into hotels, now it is the turn of Dubaibased retail major Landmark group to unfurl its plans.
Foraying into hospitality business for the first time, Landmark has proposed to set up 12 budget hotels across India in the threestar category. Unveiling an investment of over Rs 500 crore for India alone, the group plans to operate the hotels under its value brand, CityMax. Initially, the CityMax hotels will be fully-owned by the group. However, Landmark could look at contract management route eventually.
Landmark is targetting over 20 hotels across India and UAE by 2009. The group has identified land parcels across leading 12 cities in India including four metros, Bangalore, Hyderabad and tier II cities like Pune and Ahmedabad. Comprising 150-200 rooms, CityMax hotels are expected to become operational in next one year and room rents will range between Rs 2,000 and Rs 4,000. The projects are expected to come up closer to central business districts. “Our offering will not be cut and dry affair. It will have a certain degree of customer experience and room service steeped in Indian values,” CityMax Hotels India MD Ravi Saxena told ET. Further, he added, the hotel chain will not be offering standardised room tariffs across country.
Apart from the CityMax hotels, under the leisure division, the group is looking at adding 20 family entertainment centres-Fun City in India. Currently, it operates one in Chennai. Also, the first hypermarket being planned in Bangalore is expected to become operational within three months. Meanwhile, Landmark, which currently operates 11 Lifestyle stores and 5 Lifestyle Home Centres in India, plans to invest $500 million on expansion plans over next three years. This investment includes expansion of its retail, hypermarkets, leisure and hospitality businesses in India. Landmark looking at adding 26 Lifestyle and 10 Home Centres in next 36 months.
The Group’s value retail offering — Max — currently operates eight stores in India and is likely to grow to 50 stores over the next four years.
MORE ROOM
• Landmark group is foraying into hospitality business for the first time
• Initially, CityMax hotels will be fully-owned by the group
• Landmark could look at contract management eventually
• Landmark is targetting over 20 hotels across India and UAE by 2009
• The group has identified land parcels across 12 cities in India
• Projects expected to come up near central business districts
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