The Chancery Group has entered the five-star hotel segment with the opening of its 234-room Chancery Pavilion on Residency Road in Bangalore's central business district.The five-star business hotel, built at a cost of Rs 120 crore, is the second hotel of the group after The Chancery, a four-star deluxe hotel, that was opened in 2004 and built at a cost of Rs 70 crore. The group is promoted by chairman K Chengama Raju and managing director K C Chandrashekhar Raju.The boom in business travel to Bangalore - foreign business travellers make up 51% of foreign travellers -- has led to an explosion in demand for five-star accommodation. The Chancery Pavilion hopes to capitalise on this and also the flow of leisure travellers. The group expects occupancy to be high at 75%.If the demand sustains, it could help the new hotel break-even in just five years or even less when compared with seven years earlier, Tapesh Chakraborty, president of The Chancery Group, said.The hotel offers a wide range of rooms to choose from - the presidential suite, theme rooms, executive suites, superior rooms and two business floors called Club Pavilion. Room tariffs range from Rs 11,500 for a single bed to a club pavilion single at Rs 13,500 to the presidential suite at Rs 35,000.
