Having unveiled its five star hotel, The Grand Bhagwati (TGB) in Surat, Ahmedabad-based Bhagwati Banquets & Hotels Ltd. is now on an expansion mode with properties planned in Vadodara, Nagpur, Pune, Hyderabad, Indore, Nadiad, Mumbai and Bangalore. While most of the new properties will be under management contracts on revenue sharing basis, the company plans to invest Rs 300 crore for its own properties.
"We are going on an expansion mode by planning more properties in cities like Nagpur, Hyderabad, Vadodara and Pune, among others. Of these, properties in Nagpur, Pune and Vadodara will be developed by Bhagwati Banquets and Hotels at an investment of Rs 300 crore. While we have unveiled our latest five-star hotel property in Surat, investment on the properties will be made only by financial year 2011-12," said Narendra Somani, chairman and managing director of Bhagwati Banquets and Hotels Ltd.
The Surat TGB hotel has been built on an area of six lakh sq ft. The company has invested Rs. 200 crore on the Surat property which will be operational from July 2010.
Talking about the property, Somani said, "Surat being the diamond and textile hub of India has huge in flow of business and leisure tourists from across the world. With the launch of TGB Surat we wish to give guests impart an exhilarating experience with unmatched comfort to our guests."
Located on Dumas Road, the luxury hotel is surrounded by one of the most developed industrious zones with presence of some of the leading corporate houses in Surat. TGB Surat has well-furnished 162 deluxe rooms and eight extravagant suites.
The property also boasts of the country's largest convention centre with more than one lakh sq ft of pillar-less convention space, ballrooms, banquets, decorated conference rooms, manicured lawns, multi cuisine restaurants and an elite club.
"While in most hotels, 75 per cent of revenue is generated through rooms and 25 per cent through food and beverages (F&B), it is just reverse for us. We get close to 75 per cent revenue from food business," said Somani. The company expects a turnover of Rs 150 crore for the fiscal 2010-11.
