Mumbai Based Developer Plans Hotels in the City
Posted by paragjani on July 10, 2009
Royal Palms, Mumbai-based real estate developer aims to expand its footprint in the city’s hospitality market. Currently, the company operates two properties at its Royal Palms Estate located at Goregaon in Mumbai — the Palms Tower and Villas and the recently launched Imperial Palace with a total inventory of about 750 rooms. Plans are in the pipeline to build three more hotels and a convention centre within the estate. The new development is expected to be operational in the next three to five years making a total portfolio of about 2200 rooms under the company’s management.
Divulging the company’s plans to TravelBiz Monitor, Dilawar Nensey, Joint Managing Director, Royal Palms, stated, “Our overall plan is to develop an offering across every price point, as well as to create unique offering for our clientele. We have accomplished the same with our villa property and the palace hotel.” The company plans to develop a mid-market segment hotel of 400 rooms, a four-star property of 600 rooms and a five-star property of around 280 rooms. It plans to develop the five-star property dedicated to the airline crew. Nensey expects the properties to be operational from second quarter of 2012. It will develop its own brand with the new hotels.
The real estate firm will develop a convention centre having an area of 140000 sq. ft., which will be operational by end of 2010. It aims to strongly tap the MICE segment post development. “We have the room inventory to sustain the MICE events of international standard. Besides, with the new inventory getting operational, corporates will be offered with rooms by us according to their budget,” opined Nensey.
The company has recently launched its palace hotel the Imperial Palace. While the hotel’s total inventory will be about 422 rooms, it has presently started operations with 279 rooms. The property is primarily targeted to the business clientele with a major traffic driven from airline crew, corporates and FITs and conference business. According to Nensey, the property has the advantage to target leisure clientele during weekends due to its location.
Source : http://www.indianrealtynews.com/real-estate-india/mumbai/mumbai-based-developer-plans-hotels-in-the-city.html
