According to a report in www.hindubusinessline.com, Hyderabad─based Viceroy Hotels Ltd is poised to add three properties this year, including two major hotels in Chennai and Bengaluru, which entails a capital expenditure of Rs 1,200 crore.
This will take the company inventory of hotel rooms up from 560 from three properties to 1,250 from six hotels. This addition augurs well for the company and boost revenues as the new additions are coming up at prime locations in rapidly growing metros. This information was given by P Prabhakar Reddy, Chairman and Managing Director, Viceroy Hotels.
Reddy further said, “The 387─room JW Marriott project coming up at MRC Nagar in Chennai, with an expenditure of Rs 650 crore, is nearing completion. We expect to commission this major project either by March or latest by early April 2011.”