Hyderbad: Enthused by its business over the past year, as well as future prospects, the Taj group of hotels - which already runs three properties in the city - is considering adding a few more to its portfolio in Hyderabad.
The group is open to creating newproperties on the lands of its joint venture partner, the GVK group, or acquiring existing properties in the city.
The capacity addition is being thought of, considering the near sell-out business it has attracted over the past six months, coming out of the rut since the September 11 and December 13 debacles, Veer Vijay Singh, area director and general manager, Taj Resorts and Palaces told ET.
Even during off-season, the three properties operated by Taj GVK Hotels and Resorts have seen 72% occupancy. And with the season slated to begin much earlier this year in September, prospects for the next year look bright, Mr Singh said.
While the GVK Group has several lands in and around the city, which can be used for setting up new properties, we are also open to acquiring existing and upcoming properties, he added.
The hotel chain currently operates the Taj Krishna, the Taj Residency and the Taj Banjara hotels in the city with a total room strength of around 550, while the Falaknuma Palace heritage hotel with a capacity of 70-80 rooms will be opened shortly.
While the flagship Taj Krishna has already seen a 60% increase in foreign arrivals, Mr Singh expects 50% of the days in the coming year to be totally sold out. January 04 is already sold out totally, due to the CII Partnership Summit scheduled to take place here.
In fact, the city has emerged the hoteliers paradise thanks to its status as the most happening place. Despite an opinion that the city was overbuilt less than two years back, the scenario today is that of shortages, the stock of 3,000 odd rooms notwithstanding. While 1,080 of these fall under five-star category, the remaining are in the three or four-star category.
New properties have come up in the city over the last one year in the budget category, but premium 5-star stock continues to be an issue,Mr Singh said.