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Brigade hospitality to foray into hotel business

Thursday, December 17, 2009

The hotelier has acquired land in various parts of South India and has initiated talks with some of the private equity firms for raising capital to set up its upcoming properties

By Sohini Bagchi

Brigade Hospitality, a Bengaluru-based mid-sized real estate firm, has announced its plans to come up with five luxury hotels and resorts across South India under the brand name Brigade Sheraton. This would be Brigade’s maiden venture in the hotel segment as the company had so far come up with serviced apartments, clubs and convention centres.

The company has acquired land in Bengaluru, Mysore, Chikmagalur, Kochi and Chennai and is in the process of initiating talks with a number of private equity (PE) firms for raising capital to set up its upcoming properties. It has also appointed J P Morgan as one of its bankers that will fund the hotelier Rs 5,000 crore over the next 6 months.

According to Girish Chandrasekhar, a senior manager of Brigade Hospitality, “The hotel group will position its Bengaluru and Chennai properties as business hotels. The hotelier plans to invest Rs 200 crore each for the construction of these two properties.” The Brigade Sheraton in Bengaluru will have 230 rooms and will become operational in August 2010. The Chennai property is slated for launch by October 2010.

The hotelier intends to position its Mysore property as a wedding and banqueting destination. The hotel will have 220 rooms, and will be launched in 2013. The company is investing about Rs 180 crore on the hotel. The Kochi and the Chikmagalur properties will be an island resort and a plantation resort, respectively, and would to be ready for occupancy by mid-2011.

“All the Sheratons will be unique in their own ways to provide freshness and innovation to our guests,” said Mr Chandrasekhar. He added that all the hotels will have in common a multi-cuisine restaurant, coffee shop, swimming pool, banqueting facilities and a health club.

“We are recruiting around 350-400 staff over the next 1 year at our upcoming facilities to cater to our guests. We prefer to hire candidates and then provide them in-house training,” said B Suchendra, HR manager at Brigade Group.

With a current turnover of Rs 30 crore, Brigade Hospitality is aiming at becoming a Rs 500-crore company by 2014.

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