Accord Group to acquire hotels within, outside IndiaMay 29th, 2012 - 12:33 pm ICT by IANS
Chennai, May 29 (IANS) City-based Accord Group is hoping for eight hotels under its belt following a three-pronged strategy of acquisitions within and outside India, building new facilities and running hotels under management contract in three years’ time, a top company official said.
“The plan is to have around 1,100 rooms under the group in three years’ time from around 320 rooms that we have now,” newly appointed Chief Executive Officer Venkatesh Bhat told IANS.
Currently, the Accord group has three five-star hotels - the 162-room Accord Metropolitan in Chennai, the 105-room Accord Puducherry and the 53-room Highland in Ooty. While the first two are owned by the group, the Ooty property is leased.
“The group is in the process of finalising negotiations to acquire 1.5 acres here (opposite the Hilton hotel) to build a five-star hotel. The proposed hotel will have lots of water bodies which will be something new for the city. We are also looking at a greenfield property in Bangalore,” he said.
On the group’s overseas plans, Bhat said talks are on with some parties in London, Singapore and Dubai.
Bhat said with the Puducherry and Ooty hotels functioning this fiscal, the revenue for the group is expected to touch Rs.75 crore.
Outdoor catering is also another area that the group would be looking at.
“To provide the authentic cuisine demanded by the customer, we will outsource the activity through specialists while front ending the service part. In other words, if a customer wants a particular cuisine then we will hire the specialist in that domain to cook the dishes while service will be rendered by us.”
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