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Taj group plans boutique hotel in Pune palace property
The Hindu Business
Line — July 21, 2006
Hospitality
industry major Indian Hotels Company, which owns the
Taj hotels, is seeking to increase its presence in the
Pune market where it is now all set to convert the erstwhile
Padma Vilas Palace, a heritage property that once belonged
to the royal family of Gwalior, into a boutique hotel.
Sources told Business Line that plans are being firmed
up to convert the existing structure, set in a 12-acre
property in the city's Wanowrie area, into a 45-room
boutique hotel.
The city, a hub for multinationals
and the IT and ITES sector, is currently witnessing
a severe shortage of rooms with industry watchers maintaining
that the shortfall is estimated at 150 rooms currently.
The Taj group had bought the property 7-8 years ago
from the family of the late Madhavrao Scindia. Over
the years the hotel group had toyed with the idea of
converting the property into a hotel but later switched
plans to make it into a training college on the lines
of the school it has in Aurangabad.
"This property has been
in Indian Hotels Company Ltd portfolio for many years.
We revisit our sites regularly depending upon the feasibility
of the cities and constantly evaluate their viability
for hotel use. The Padma Vilas is a choice location,
but we have not reviewed any plan whatsoever to develop
it, at this point in time," Mr Raymond Bickson,
Managing Director & CEO, Indian Hotels Company Ltd,
said in response to a query. Sources within the company,
however, insist that with the city's hotel industry
now witnessing a boom, the company is keen to get a
slice of the lucrative business and wants to enter the
fray with a property that can be converted for use without
too much delay.
Taj Hotels is meanwhile increasing
its presence in Pune with its existing five-star, the
108-room Taj Blue Diamond going in for a major expansion.
It plans to more than double capacity by adding deluxe
and premium rooms. Work is also under way on a budget
hotel property, which will carry the Ginger tag.
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