TajGVK Hotels and Resorts Limited (THRL) formed through an alliance between Hyderabad based GVK group and Tata group’s Indian Hotels Company Limited is looking at opening hotels in tier II and tier III cities.
G Indira K Reddy, Managing Director, TajGVK Hotels told Business Standard, “We are open to opportunities in districts and smaller cities like Rajahmundry, Visakhapatnam and Vijayawada. If we get any opportunity, we will expand our portfolio.” At present, the company owns five properties – Taj Krishna, Taj Banjara, Taj Deccan, Taj Falaknuma and Vivanta by Taj. Citing high land prices in districts as a major hurdle, Reddy said, “Land prices in the districts are not viable. In some districts, including Nellore, land prices are higher than Hyderabad.” The company is also looking at opening three-four Ginger hotels in Hyderabad. “The first Ginger hotel is under construction and will be launched this year. We expect to open another three-four Ginger hotels in the city,” she said.
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