Taj, GVK plan alliance for buyouts in Bangalore

The Taj Group of Hotels is looking at acquiring properties in Bangalore to cater to the growing inflow of tourists and business travellers into the city.

It is learnt that the Taj Group is in talks with GVK Group of Hyderabad for a possible alliance for this acquisition.

The group is also close to commercialising its budget hotel - codenamed Wildfire - on the outskirts of Bangalore in 6-7 months time.

Senior officials at the Taj Group said they will want to increase their exposure in Bangalore city as it is witnessing a huge inflow of tourists and the occupancy rates running to close to 100 per cent in the recent past.

"There are properties which are for sale in the city and we are looking at them. The process is still being worked out and we should be taking a call on the property pretty soon," the official noted.

The group is also enhancing the process of completing its budget offering in Bangalore which has been named Wildfire.

"This is a project name and we are in process of finalising a brand name for this offering. The property should be ready for occupancy in 7 months time and this is a unique budget hotel in Bangalore," the official said.

Taj, in an effort to boost the images of its hotels, has also gone in for an revamped look for its luxury brand Taj West End in Bangalore.

The group has invested around Rs 16 crore for this revamp and has introduced two new restaurants - Mynt (24-hour coffee shop) and also has tied up with the famed Vietnamese chain of restaurants Blue Ginger for their outlet in the hotel. Taj West End has also gone in for upgrading their suites and will be investing a Rs 20 crore.

The hotel has seen its occupancy go upto 85 per cent during the current fiscal up from the earlier 73 per cent and is expecting to close this fiscal at Rs 40 crore turnover.