Talera Group to Build Budget Hotels

June 11, 2007	(Be the first to rate this story!)  Loading ...
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In a bid to tap the growth in domestic tourism, Talera Group of Hotels (TGH), the largest group of hotels in Pune, is planning to invest a whopping Rs 1,500 crore for construction of 100 fully automated budget hotels under the ambit of ‘Smart Inn’. The project has been scheduled to complete in next five years.

The Group under its subsidiary Small Hotel Ventures will build 100 ‘Smart Inn’ properties across the country. These accommodation serving units will fall under the category of budget hotels catering to the bottom of the pyramid.

TGH is actually pondering upon adding 10,000 rooms with staying in step of the capacity of each property to have an average of 100 rooms, at a cost of Rs 15 crore. The chain will especially cater to the demanding requirements of both the business and leisure travelers. The first hotel has already begun operations in Pune. And, similar ones have lined up to come by mid 2008 in the cities including Mysore, Nagpur, and Ahmedabad.

The project will initially be completed through internal accruals and the company will raise money from the capital market later. However, there is no such public issue on cards yet but the company is open to the idea.

Customers will have a facility to check in kiosks by paying through either credit card or cash through the fully automated concept.  The system eliminates the need of any human intervention, says Hrashad Talera, Managing Director of Talera Group of Hotels.

The marketing will be done through the means of internet and mass media like television and print. With the growing number of business and leisure travelers, self employed and professionals growing, the project appears to have little risk, adds Talera.

News Published Under:   Real Estate India |

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