This is Poonawalla’s first foray into the Indian hospitality industry. Poonawalla owns a majority stake in two UK-based hotels.
MUMBAI: The chairman of Poonawalla Group, Yohan Poonawalla, is stepping into the luxury hotels business. He has entered into an agreement with one of the world’s largest hotel companies (by the number of rooms) - the InterContinental Hotels Group (IHG) — to manage a 200-room luxury property in Pune.
This is Poonawalla’s first foray into the Indian hospitality industry. Poonawalla owns a majority stake in two UK-based hotels. While one of them is a luxury spa at Surrey called Grayshott, the other is a countryside hotel called Fawsley Hall located close to the Formula 1 racing track at Silverstone.
“A greenfield project it will mark InterContinental’s foray in the city of Pune. The international hotel chain has agreed to brand the property under its utmost luxury offering - the InterContinental brand. The hotel is expected to start receiving guests in the first quarter of 2009,” said a hospitality industry source.
Located adjacent to the INOX theatre in the central business district (CBD) of Pune, InterContinental Pune promises to offer a comprehensive range of dining and recreation facilities, including two speciality restaurants, an all-day dining restaurant, a lively evening entertainment venue and a signature spa.
The unique selling proposition, however, is the meeting facilities, including a 500-seat ballroom, and several meeting rooms supported by a full-range of business services. “The facilities have been planned keeping in mind the growing business interest across IT, ITES, automobile, and consumer durable sectors. The hotel will primarily target business travellers and conference delegates,” said a source.
InterContinental Pune will be IHG’s 15th hotel in India and the second internationally branded hotel in Pune. The first international chain to establish presence in the city is the Le Meridien hotel, now part of the US-based Starwood Hotels.
In fact, according to the international hospitality consultancy firm, HVS International Pune is expected to see 11 new hotels, serviced apartments and mixed-use developments with approximately 1,600 rooms in various categories over the next three to four years. “The addition to supply, although quite high, is likely to be successfully absorbed, taking into account Pune’s low-room base of approximately 800 rooms and a continuous growth in the city’s IT, ITeS, BPO and manufacturing industries,” managing director of HVS International India Manav Thadani was quoted in the report.
Some of the other international chains setting up shop in Pune include the Carlson Hotels with its Radisson brand, Marriott International, Hyatt International, besides Indian majors like Leela Group, Oberoi Group, Kamat Hotels, Sarovar Hotels, etc.
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