Landmark Group to Foray into Indian Hotel Industry

April 25, 2007	(3 votes, average: 4.33 out of 5)  Loading ...
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Making rapid strides within short period, the hotel industry in India is the next common hunting ground for major retail players. The trend is to be set by the Dubai-based Landmark Group, planning to invest over Rs. 500 crore in development of 12 budget hotels across India.

The group will operate its hotel chain in India under its value brand – CityMax and may opt for contract management route eventually.  Landmark envisages coming up with 20 hotels across India by 2009.

The group has already begun buying the land in Indian metros and tier –II cities.  Each CityMax hotel will have 150-200 rooms.  The chain is likely to become operational in the next one year. As far as rentals of these hotel rooms are concerned, they will range somewhere between Rs 2,000 to Rs. 4,000.

The hotel chain will not offer standardized room tariffs across country, says Ravi Saxena. MD of CityMax Hotels India. The group also has plans develop 20 family entertainment centres in India by the name of FUN CITY.

At present, Landmark is running 11 Lifestyle Stores and five Lifestyle Home Centres in India. The group will put the future investments in expansion of its retail, hypermarkets, leisure, and hotel businesses in India.

Landmark’s value retail offering — Max — currently runs eight stores in India and is expected to grow to 50 stores over the next four years.

News Published Under:   Real Estate India |

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