Puruvankara Group Eye Share Of Hospitality Pie

EH&C Staff - Mumbai

Continuing with the bustling trend of realtor to hotelier, the Bangalore-based real estate major Puruvankara Group is the latest realty company to join the hospitality bandwagon. In its 1,000 acre commercial and entertainment project in Bangalore, the company is to commence construction on its 80 room three-star hotel for which the company has already tied up with Accor for its Ibis brand. Also on cards in the 260 room five-star hotel for which the group is currently in talks with Hyatt Hotels.

Speaking on the foray into the business of hotels, Girish Puruvankara, managing director, Puruvankar Group, said, “The hotel business in Bangalore is booming and tourism is at an all time high – a peak into the ARRs and occupancy gives us a clear indication of the potential for setting up a hotel business.”

As part of our company’s expansion into the commercial development segment – in specific shopping malls and entertainment centre, we decided that a venture into the hotel business will certainly add a star to our corporate image and also because it is a natural extension, Puruvankara further elaborated.

The tie-up with Accor is also consequently to be the first Ibis in India from the Accor stable. And sources within the company have revealed that talks with Hyatt have reached a final stage.

The group is also keen at establishing hotels in Chennai and Mumbai, but at this stage no comment can be made, explained Puruvankara.