The Economic Times dt.19/7/08
Nirbhay Kumar & Rajat Guha NEW DELHI
GURGAON-BASED Spice Group plans to build the country’s largest budget hotel near Delhi airport. The 3,000-room hotel would be spread over 12 acres on Sohana road and three blocks of no-frills accommodation. Spice plans to invest Rs 400 crore in the project.
The hotel is being planned to start operations in time for the 2010 Commonwealth Games. The proposed hotel complex would be about 20 kilometres away from Capital’s Indira Gandhi International (IGI) Airport. According to tourism ministry’s estimate, Delhi would face shortage of about 40,000 hotel rooms by 2010.
“We have already acquired land for the proposed hotel which would be the biggest in the country. The upcoming hotel would provide three-star services at the cost of budget hotel,” said Spice Energy CEO Ravi Chilukuri. Instead of the usual system of charging for all facilities, the budget hotel would charge for basic services and customers would have a choice to avail other services at an extra cost.
Spice Group also plans to build hotels in the south Indian cities of Hyderabad and Chennai. It has already acquired 40 acres near the newly built Hyderabad airport to put up a budget hotel. The promoters of the group feel that there will be tremendous demand for nofrills services in the years to come.
“The hotels in Hyderabad and Chennai would not be as big as the project planned near Delhi. We are planning about 800-room hotels in both the cities,” Mr Chilukuri added.
Spice Group, which owns Samannah brand of hotels, is setting up three five-star hotels in Morocco in partnership with Hennesey family of LVMH. The group also runs a string of budget hotels in the UK. The group has interests in areas such as oil refining, shipping, metals, bio-fuels and power.
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