This thread will keep track of all the existing and upcoming 5-star and 5-star deluxe hotels in Chennai. Since Chennai has opened up to the international markets, several hospitality groups are in queue to set up business in Chennai. Some of them have already started construction, while others are in the pipeline. this thread will keep track of all these developments.
Chennai Hotels thread
coolmukund
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Peppermint Hotels plans to open budget hotel
http://www.mydigitalfc.com/news/peppermint-plans-10-budget-hotels-yearend-946
“We are expanding at a steady pace. At present we have hotels in Gurgaon, Jodhpur and Jaipur. We plan to launch soon in Bangalore, Goa, Kumarakom, Ahmedabad, Baroda and Chennai. We are looking at launching 10 hotels by the end of this year. All deals are firmed up and work on all sites is progressing well,” said Arjun Baljee, founder and director of Peppermint Hotels India.
http://www.mydigitalfc.com/news/peppermint-plans-10-budget-hotels-yearend-946
“We are expanding at a steady pace. At present we have hotels in Gurgaon, Jodhpur and Jaipur. We plan to launch soon in Bangalore, Goa, Kumarakom, Ahmedabad, Baroda and Chennai. We are looking at launching 10 hotels by the end of this year. All deals are firmed up and work on all sites is progressing well,” said Arjun Baljee, founder and director of Peppermint Hotels India.
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Hyatt Regency to open this year; Park Hyatt to open next year
http://www.mydigitalfc.com/news/hyatt-aims-strong-luxury-positioning-937
The Hyatt Group, with its upscale brands like Grand Hyatt and Hyatt Regency and the smaller luxury brand Park Hyatt, at present offers 2,631 rooms in six Indian cities. Two more hotels, Hyatt Regency in Chennai with 327 rooms, and Park Hyatt with 209 guestrooms and 44 serviced apartments in Hyderabad, are to become operational this year. It is also planning to open Park Hyatt in Chennai and Grand Hyatt in Goa during next fiscal.
http://www.mydigitalfc.com/news/hyatt-aims-strong-luxury-positioning-937
The Hyatt Group, with its upscale brands like Grand Hyatt and Hyatt Regency and the smaller luxury brand Park Hyatt, at present offers 2,631 rooms in six Indian cities. Two more hotels, Hyatt Regency in Chennai with 327 rooms, and Park Hyatt with 209 guestrooms and 44 serviced apartments in Hyderabad, are to become operational this year. It is also planning to open Park Hyatt in Chennai and Grand Hyatt in Goa during next fiscal.
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Interview with Mr Peter Fulton, Managing Director, South West Asia, Hyatt International
So, now that you are close to opening in Chennai, what's the big bang launch you are planning? There is high anticipation ...
(Laughs) Everybody's waiting! There is a level of anticipation because of what this hotel is and its location in the city, it's been around for over a decade. (The building where Hyatt has come up is over 12 years old; it was owned by the Balaji group and an Oberoi hotel was to come up but the project was stalled because of various issues the group faced.) It's going to be an interesting product.
It will be a fresh approach to hospitality in Chennai and the whole package with the mall also completed will add tremendously to what's on offer in that location, smack in the middle of the city. We have been discussing numerous opportunities to open with a bang. Essentially, we will be getting into the community. We like our hotels to be in with the community they are in and we need them to come in and see.
How do you view the Chennai market, now that you're close to opening a property there and one more is in the offing? There's a lot more room stock coming into the city, so what will be the impact?
We are going to be opening three, eventually. Obviously, with the exponential growth coming out of Chennai, everybody's going to suffer a little bit. But, once the concrete gets into the ground it's going to be there for 30-40 years. In the long term, everybody is going to do extremely well. It has traditionally been an under-served market; there hasn't been a tremendous amount of stock there. In Chennai, if you note, over the years, once there is an upswing in supply, it takes a little while for demand to catch up. However, there is good demand, there is a lot of movement into Chennai. Maybe Chennai is a little behind the development curve compared to the other metros in India and that's now coming into the forefront. I think within five years, the supply will be absorbed quite well and everybody will do okay. Obviously, if you introduce 600-700 rooms into any market anywhere in the world in a short span of time, there will be a softening in (room rates).
You said Chennai has traditionally been an under-served market – what did you mean by that? In terms of rooms?
Yes, in rooms, Chennai never seemed to be, I use the word, discovered, the same way as Bangalore or Hyderabad – that's my personal opinion, not backed by fact. But, now I think it's beginning to – it's a very vibrant city and a lot of industrial hubs are coming up around it and it's proving to be quite beneficial while its proximity to Sri Lanka and other hubs in Asia would be beneficial as well.
Hyatt Regency to open in May.
http://www.hotelnewsresource.com/ar...ets_with______Hotel_Openings_and_Expansion_of_Properties_Under_Development.html
So, now that you are close to opening in Chennai, what's the big bang launch you are planning? There is high anticipation ...
(Laughs) Everybody's waiting! There is a level of anticipation because of what this hotel is and its location in the city, it's been around for over a decade. (The building where Hyatt has come up is over 12 years old; it was owned by the Balaji group and an Oberoi hotel was to come up but the project was stalled because of various issues the group faced.) It's going to be an interesting product.
It will be a fresh approach to hospitality in Chennai and the whole package with the mall also completed will add tremendously to what's on offer in that location, smack in the middle of the city. We have been discussing numerous opportunities to open with a bang. Essentially, we will be getting into the community. We like our hotels to be in with the community they are in and we need them to come in and see.
How do you view the Chennai market, now that you're close to opening a property there and one more is in the offing? There's a lot more room stock coming into the city, so what will be the impact?
We are going to be opening three, eventually. Obviously, with the exponential growth coming out of Chennai, everybody's going to suffer a little bit. But, once the concrete gets into the ground it's going to be there for 30-40 years. In the long term, everybody is going to do extremely well. It has traditionally been an under-served market; there hasn't been a tremendous amount of stock there. In Chennai, if you note, over the years, once there is an upswing in supply, it takes a little while for demand to catch up. However, there is good demand, there is a lot of movement into Chennai. Maybe Chennai is a little behind the development curve compared to the other metros in India and that's now coming into the forefront. I think within five years, the supply will be absorbed quite well and everybody will do okay. Obviously, if you introduce 600-700 rooms into any market anywhere in the world in a short span of time, there will be a softening in (room rates).
You said Chennai has traditionally been an under-served market – what did you mean by that? In terms of rooms?
Yes, in rooms, Chennai never seemed to be, I use the word, discovered, the same way as Bangalore or Hyderabad – that's my personal opinion, not backed by fact. But, now I think it's beginning to – it's a very vibrant city and a lot of industrial hubs are coming up around it and it's proving to be quite beneficial while its proximity to Sri Lanka and other hubs in Asia would be beneficial as well.
Hyatt Regency to open in May.
http://www.hotelnewsresource.com/ar...ets_with______Hotel_Openings_and_Expansion_of_Properties_Under_Development.html
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Nitesh Estates plans Ritz Carlton in Chennai
http://www.livemint.com/2011/03/25191431/Home-in-the-sky.html?h=B
http://www.livemint.com/2011/03/25191431/Home-in-the-sky.html?h=B
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Info about Ritz Carlton
Real estate developer, Nitesh Estates, is reported to be planning to raise approximately US$215 million through the sale of shares to finance the development of a Ritz-Carlton hotel in Chennai, India.
To be located on 36,400 square metres of land in Chennai's Boat Club area and estimated to cost approximately US$323 million, the overall development is envisaged to feature 9,300 square metres of luxury retail space in addition to the hotel.
In early November 2009, Nitesh had entered into a management agreement with Ritz-Carlton on a 200-key hotel and 80 serviced residences.
Real estate developer, Nitesh Estates, is reported to be planning to raise approximately US$215 million through the sale of shares to finance the development of a Ritz-Carlton hotel in Chennai, India.
To be located on 36,400 square metres of land in Chennai's Boat Club area and estimated to cost approximately US$323 million, the overall development is envisaged to feature 9,300 square metres of luxury retail space in addition to the hotel.
In early November 2009, Nitesh had entered into a management agreement with Ritz-Carlton on a 200-key hotel and 80 serviced residences.
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I was told that the deal between the Land owner (Diocese) and Nitesh Estates is in trouble.
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Two Hyatt Regency Hotels and one Park Hyatt to be opened in Chennai
http://www.travelbizmonitor.com/hyatt-place-to-debut-in-india-by-2012-13001
http://www.travelbizmonitor.com/hyatt-place-to-debut-in-india-by-2012-13001
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ITC set to de-risk hotel business
http://economictimes.indiatimes.com.../hotels-/-restaurants/itc-set-to-de-risk-hotel-business/articleshow/7805712.cms
ITC Hotels , the hotels division of the tobacco-to hospitality major ITC, is foraying into retail mall and service apartments. Most of the new mega hotel projects of the company will have luxury retail space and service apartments . ITC would soon start talks with high-end retail players for renting out retail space. It will be part of ITC's strategy to de-risk the hotel business.
The company is planning to invest $2 billion in hospitality business in next few years which is one of the thrust areas for investment of ITC along with FMCG and paper. It may be noted that the hotel division of ITC has a turnover of over Rs 1,000 crore.
Nakul Anand, executive director of ITC and head of hospitality business, said that the company would introduce the new business model in ITC Grand Chola in Chennai. The hotel will be one of the largest hospitality properties of ITC. The company would also follow the retail and service apartment model in its proposed second property in Kolkata.
"This is a de-risking model . Hospitality is highly seasonal business. It is a derived demand in hospitality sector. If during recession, the economy does not perform well, this sector also gets affected. We have witnessed this in 2001-02 after 9/11 and recently in 2008 after the global meltdown ," he added.
Anand said the retail space rental and service apartments would act as hedging instrument in case of any economic seasonalities. According to him, ITC Grand Chola will have 40,000 square feet of luxury retail space. ITC would invest close to Rs 1,000 crore in the new property in Chennai. "We are building 17 lakh square feet in ITC Grand Chola. It will have 600 rooms and service apartments . The project is likely to be completed by December 2011," he added.
Elaborating on the new business model, he added that the second hotel in Kolkata near ITC Sonar, would have considerable amount of retail space. The hotel would have 14 lakh square feet area.
Beside Kolkata, ITC is planning new hotels in Hyderabad , Kerala, Ahmedabad, Bhubaneswar, Noida, Goa and Gurgaon. It would add 13 new properties in next few years. Anand added that ITC pursues philosophy to innovate business strategies in a way that not only delivers superior business performance but contributes in increasing measure to create a positive environment and social footprint.
"Our hotels division has unleashed a series of initiatives to be a global exemplar in sustainable hoteliering. A concept that we call "responsible luxury." A belief in delivering world-class luxury in the greenest possible manner. Many of ITC's luxury hotels are being run with renewable energy including ITC Royal Gardenia in Bangalore," he added.
http://economictimes.indiatimes.com.../hotels-/-restaurants/itc-set-to-de-risk-hotel-business/articleshow/7805712.cms
ITC Hotels , the hotels division of the tobacco-to hospitality major ITC, is foraying into retail mall and service apartments. Most of the new mega hotel projects of the company will have luxury retail space and service apartments . ITC would soon start talks with high-end retail players for renting out retail space. It will be part of ITC's strategy to de-risk the hotel business.
The company is planning to invest $2 billion in hospitality business in next few years which is one of the thrust areas for investment of ITC along with FMCG and paper. It may be noted that the hotel division of ITC has a turnover of over Rs 1,000 crore.
Nakul Anand, executive director of ITC and head of hospitality business, said that the company would introduce the new business model in ITC Grand Chola in Chennai. The hotel will be one of the largest hospitality properties of ITC. The company would also follow the retail and service apartment model in its proposed second property in Kolkata.
"This is a de-risking model . Hospitality is highly seasonal business. It is a derived demand in hospitality sector. If during recession, the economy does not perform well, this sector also gets affected. We have witnessed this in 2001-02 after 9/11 and recently in 2008 after the global meltdown ," he added.
Anand said the retail space rental and service apartments would act as hedging instrument in case of any economic seasonalities. According to him, ITC Grand Chola will have 40,000 square feet of luxury retail space. ITC would invest close to Rs 1,000 crore in the new property in Chennai. "We are building 17 lakh square feet in ITC Grand Chola. It will have 600 rooms and service apartments . The project is likely to be completed by December 2011," he added.
Elaborating on the new business model, he added that the second hotel in Kolkata near ITC Sonar, would have considerable amount of retail space. The hotel would have 14 lakh square feet area.
Beside Kolkata, ITC is planning new hotels in Hyderabad , Kerala, Ahmedabad, Bhubaneswar, Noida, Goa and Gurgaon. It would add 13 new properties in next few years. Anand added that ITC pursues philosophy to innovate business strategies in a way that not only delivers superior business performance but contributes in increasing measure to create a positive environment and social footprint.
"Our hotels division has unleashed a series of initiatives to be a global exemplar in sustainable hoteliering. A concept that we call "responsible luxury." A belief in delivering world-class luxury in the greenest possible manner. Many of ITC's luxury hotels are being run with renewable energy including ITC Royal Gardenia in Bangalore," he added.
The trouble is among the managing trustees of the Diocese.Otherwise Nitesh Estates would have started the project last year itself along with their huge project in Bangaluru.
viceroy group shelves jw Marriott Chennai project
source-http://online.wsj.com/article/SB10001424052748704471904576228281973013532.html
New Delhi--Viceroy Hotels Ltd, a franchisee of global hospitality major Marriott International Inc, said it will hive off its 5.6-billion-rupee Chennai project division to raise cash.
The company on Monday, in a filing with the Bombay Stock Exchange, said its board approved of the move to sell the unit that includes its 387-room luxury hotel and residential projects in Chennai.
now i know why the project is delayed to 2012 nov....
hno:
source-http://online.wsj.com/article/SB10001424052748704471904576228281973013532.html
New Delhi--Viceroy Hotels Ltd, a franchisee of global hospitality major Marriott International Inc, said it will hive off its 5.6-billion-rupee Chennai project division to raise cash.
The company on Monday, in a filing with the Bombay Stock Exchange, said its board approved of the move to sell the unit that includes its 387-room luxury hotel and residential projects in Chennai.
now i know why the project is delayed to 2012 nov....
hno:viceroy group shelves jw Marriott Chennai project
New Delhi--Viceroy Hotels Ltd, a franchisee of global hospitality major Marriott International Inc, said it will hive off its 5.6-billion-rupee Chennai project division to raise cash.
The company on Monday, in a filing with the Bombay Stock Exchange, said its board approved of the move to sell the unit that includes its 387-room luxury hotel and residential projects in Chennai.
now i know why the project is delayed to 2012 nov......hno:
source-http://online.wsj.com/article/SB10001424052748704471904576228281973013532.html
New Delhi--Viceroy Hotels Ltd, a franchisee of global hospitality major Marriott International Inc, said it will hive off its 5.6-billion-rupee Chennai project division to raise cash.
The company on Monday, in a filing with the Bombay Stock Exchange, said its board approved of the move to sell the unit that includes its 387-room luxury hotel and residential projects in Chennai.
now i know why the project is delayed to 2012 nov......
hno:source-http://online.wsj.com/article/SB10001424052748704471904576228281973013532.html
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Hyatt Hotels Corporation (NYSE:H) Opens Chennai Location
Hyatt Hotels Corporation (NYSE:H) has decided to open its first property in Chennai, in the month of May, the peak of summer.:cheers::
http://www.stocksandshares.tv/hyatt-hotels-corporation-nyseh-opens-chennai-location/3205412
Hyatt Hotels Corporation (NYSE:H) has decided to open its first property in Chennai, in the month of May, the peak of summer.:cheers::
http://www.stocksandshares.tv/hyatt-hotels-corporation-nyseh-opens-chennai-location/3205412
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There will be a glut in Hotel rooms availability if all the proposed hotel projects are completed.
There is a rethinking from all developers to sell off / postpone or convert to Residential / commercial use.
Leela & Viceroy may sell off the land and realise the Return on their huge investments.
There is a rethinking from all developers to sell off / postpone or convert to Residential / commercial use.
Leela & Viceroy may sell off the land and realise the Return on their huge investments.
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Leela - ?? , I don't think they have any plans to sell or convert to commercial etc.
http://www.theleela.com/hotel-chennai.html
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^^
As far as i know Leela is retaining the Hotel in Chennai, they are only selling the Office building adjacent to this hotel and its land. and not the hotel.
As far as i know Leela is retaining the Hotel in Chennai, they are only selling the Office building adjacent to this hotel and its land. and not the hotel.
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I too heard the same.
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They are selling their commercial office space (Non core assets)
The Board, which met on Saturday, also decided to sell major portion of the commercial office space in Chennai and to enter into joint development agreements with reputed builders on company owned land in Hyderabad and Bangalore for residential or commercial development.
The Board, which met on Saturday, also decided to sell major portion of the commercial office space in Chennai and to enter into joint development agreements with reputed builders on company owned land in Hyderabad and Bangalore for residential or commercial development.
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Leela is selling the balance land at MRC Nagar near the hotel as the budget for the hotel has shot through the roof and there seems to be a cash crunch.
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