Holiday Inn Express hotel to come up in MahindraWorld City

June 14th, 2011 - 11:37 pm ICT by IANS  

Chennai, June 14 (IANS) Gurgaon-based hotel developer Duet India Hotels Pvt Ltd has decided to build a 140-room Holiday Inn Express hotel at MahindraWorld City - an integrated business city near here - at an outlay of Rs.80 crore, said a senior company official Tuesday.

The Holiday Inn Express brand caters to the mid-market clientele and the room rent will be around Rs.3,500 per day, chief investment officer Navnet Bali told reporters here.

Bali said Holiday Inn Express is expected to break even at 45-50 percent occupancy and will be targeting the business visitors to industrial units located in MahindraWorld City and surrounding belt.

The firm is also looking at locations like Old Mahabalipuram Road in Chennai, Sriperumbudur near here, and Bangalore’s Outer Ring Road, he said.

The firm is also in talks with a few hotels for converting them into Holiday Inn Express brand hotels, Bali said.

“We are in discussion with a couple of hotels in Mumbai and Chhattisgarh. Converting an existing hotel as a well known branded hotel has several challenges like the room size, clientele served and others,” he said.

The hotel brand, owned by the Britain-based InterContinental Hotel Group, manages a chain of hotels under various brands.

Bali said the company is planning to build around 20 hotels with a total room strength of around 3,300 in a few years’ time partnering with the British group.

Duet Hotels has invested $63 million of equity in the development of seven hotel projects totaling 1,251 rooms in Jaipur, Pune, Ahmedabad, Indore, Hyderabad, Chennai and Bangalore.

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