No announcement yet.

Galaxy Hotel to invest Rs 750 cr in India


Galaxy Hotel to invest Rs 750 cr in India

Last updated: August 10 2007
1 | Posts
2792 | Views
  • Time
  • Show
Clear All
new posts

  • Galaxy Hotel to invest Rs 750 cr in India

    Claimed to be a first of its kind concept in India, Galaxy Hotel plans to build a hospitality-cum-retail structure with an investment of about Rs 750 crore in India. The new hotel group recently opened its first property in Gurgaon.

    In its short term plan, the company plans to add at least five more properties in different locations in India. Shashank Pundir, the hotel's general manager, said, "Galaxy Hotel Shopping Spa is how we refer our brand as, which is unique and will be promoted as a lifestyle business concept. The plan is to invest around Rs 750 crore apart from land costs, which we are going to raise through equity and debt. We are planning to take the concept to five more cosmopolitan destinations in India."

    The concept revolves around the new lifestyle of high-end shopping and Galaxy wants to offer this experience within the same complex that will include a spa and a health club. The Total Integrated Design (India) has done its interiors. The managing director of TID India, Ritu Bhatia Kler, said, "The concept is more about bringing a hip design that brings lifestyle brands closer to guests. The retail segment is doing well and has potential to become a hospitality trend."

    The first hotel by the company in Gurgaon has 80 rooms. "The smallest and biggest room in our property measures 370 sq ft and 750 sq ft, respectively and offers a spa room, suite and deluxe room, which is very unconventional," remarked Pundir. The company is also developing its own spa brand - Spa Soul - which will be a regular feature in all its properties. The first one will be operational in Galaxy Gurgaon by September this year. Pundir hinted at Bangalore as the next possible destination for Galaxy's brand presence. "We have outlined an advertising and promotion budget of Rs 5-7 crore," he revealed.


    Hmmm..its 'feel gud' factor working on me when I read on the latest development plans of hospitality & realty industry within our OWN country.
Have any questions or thoughts about this?