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By TBM Staff | Mumbai
Brigade Hospitality Services Ltd (BHSL), a subsidiary of Bengaluru-based real estate developer, Brigade Group, plans to set up three mid-market hotels in Bengaluru and Mysore by 2015. The group plans to invest Rs 150 to 200 crore for the upcoming properties in Bengaluru and Mysore. Each property will have an average of 125-150 keys and will be set up with an investment of Rs 30 to 35 lakh per key.
Speaking with TravelBiz Monitor about the company's decision to enter the mid-market segment, Vineet Verma, CEO, Brigade Hospitality Services Ltd said, “We are quite particular about the locations where our properties will come up. Since the planned hotels happen to be in the mid-market segment, it is important that the properties are located near railway stations, bus stands and other transport and infrastructure facilities. We wish to tap the mid-market segment as we see increasing demand for rooms in this segment.”
Verma further said, “The company is giving priority to places like Bengaluru and Mysore for which talks are currently underway. The average room rate for budget hotels will be USD 100 per night. We are in talks with some of the international brands for managing our hotels.”
BHSL have so far partnered with Starwood Hotels and Resorts Worldwide, Inc, InterContinental Hotels Group and Accor under the Sheraton Hotel and Resorts, Holiday Inn Hotel & Resorts and Mercure brands for its properties in India.
Brigade Hospitality Services Ltd (BHSL), a subsidiary of Bengaluru-based real estate developer, Brigade Group, plans to set up three mid-market hotels in Bengaluru and Mysore by 2015. The group plans to invest Rs 150 to 200 crore for the upcoming properties in Bengaluru and Mysore. Each property will have an average of 125-150 keys and will be set up with an investment of Rs 30 to 35 lakh per key.
Speaking with TravelBiz Monitor about the company's decision to enter the mid-market segment, Vineet Verma, CEO, Brigade Hospitality Services Ltd said, “We are quite particular about the locations where our properties will come up. Since the planned hotels happen to be in the mid-market segment, it is important that the properties are located near railway stations, bus stands and other transport and infrastructure facilities. We wish to tap the mid-market segment as we see increasing demand for rooms in this segment.”
Verma further said, “The company is giving priority to places like Bengaluru and Mysore for which talks are currently underway. The average room rate for budget hotels will be USD 100 per night. We are in talks with some of the international brands for managing our hotels.”
BHSL have so far partnered with Starwood Hotels and Resorts Worldwide, Inc, InterContinental Hotels Group and Accor under the Sheraton Hotel and Resorts, Holiday Inn Hotel & Resorts and Mercure brands for its properties in India.
