Phoenix Group to develop five-star business hotels in India

Phoenix Group plans to enter into the five-star deluxe business hotel segment with the first property coming up in Whitefield near Bangalore. The 160-room property on two acres is expected to open by end of 2008 at an investment of Rs 300 crore. It will have four F&B outlets, a 24-hour coffee shop and a high end bar.

“We chose Whitefield as the location as currently there are no five-star properties,” said Priti Chand, Director - PR and Communications, Phoenix Group. The Group plans to establish properties in Chennai and Hyderabad for which land has been acquired at an investment of Rs 600 crore. The properties are expected to be ready by end of 2010.

Apart from that it has already acquired 5.5 acres of land at Devanahalli near the new international airport in Bangalore to develop a mixed-use property. The Group plans to enter tier II cities such as Kochi, Ahmedabad and Jaipur in the second phase of expansion. It also plans to develop a mix of hotels and resorts in these cities.

“All these properties might be developed under a new brand or under the existing Radisson brand. We are yet to take a decision on the branding strategy,” informed Priti. Further, the Group has refurbished its existing property Radisson White Sands Resort Goa at Rs 20 crore. It wants to expand its property and add another 100 rooms at an investment of Rs 150 crore. The proposal has been sent to the government for approval.

The Real Estate Division of the Group is currently in the process of planning its first foray into the Indian real estate market with a luxurious villa project in Goa. This project will have 200 villas and 100 apartments. About 250 acres of land in Goa has also been acquired for yet another high end villa project with an 18-hole golf course. Both these projects are in the initial stages of development.