Tag Archives: Movenpick hotels

Potential and roadblocks co-exist for hotels-I

Posted on by Track2Realty

By: Ravi Sinha 

Track2Realty Exclusive

Lemon Tree Hotels, Warburg Pincus, Track2Realty, Track2Media, Ravi Sinha, India real estate news, indian realty news, real estate news, property news india, indian propertyIt is not just real estate developers and national & international hospitality majors, but several high net worth individuals and business groups from sectors like auto, petroleum and telecom have grabbed hospitality assets, marking a strategic trend shift. Track2Realty analyses how opportunities and roadblocks co-exist in the hospitality, thus making it an interesting sector where there is room for everyone to grow.

On a macro level the hospitality sector is poised to attract the maximum attention with expected investment of $12 billion in 2012-13, with over 20 new international brands to be added to the sector. The real estate developers in search of greener pastures to overcome the sluggish market also find the sector attractive than it has ever been and set to grow as India expands its soft as well as hard power quotient.

However, on a micro level the sector in India has struggled throughout 2011 to deal with the dual challenge of cost cutting by global corporate houses that resulted in a significant drop in corporate travel, and a perception of being an unsafe destination due to the terror attacks in various parts of the country. The hotel industry is also very sensitive to economic cycles and is therefore intrinsically linked to the state of the economy.

However, weathering the storm the industry in general has managed to revive and the upward movement promises to improve the performance and lead to growth in 2012 as well. Although hotel room supply grew by nearly 15% in 2010/11, growth in demand outpaced supply, and nationwide occupancy grew by 1.7% over that of 2009/10. The growth in occupancy, despite a double digit growth in supply, signals the strength of the hospitality industry in India.

It is thus inevitable that realty developers are looking forward to the hospitality business. Real estate developers Emaar-MGF, DLF Universal, Ansals, Vatika, Ambience and Parsvnath are all bullish to the hospitality biz. While they want to retain the ownership of the hotels, large (mostly multinational) hotel chains are being invited to ally with them for management and marketing functions. Market dynamics of realty in general may have forced us to put the plan on hold, as a realtor says requesting anonymity, the plan has not been shelved for sure.

Sanjay Verma, Joint Managing Director, Cushman & Wakefield says real estate developers ‚Äúbring value to the table‚ÄĚ. ‚ÄúThey have large existing land¬†banks¬†and also the ability to acquire more land.‚ÄĚ And since one of the major deterrents to building new hotels is the availability of land, it is logical that the major realtors should foray into¬†hospitality.

..…to be continued

Mövenpick opens first hotel in India

Posted on by Track2Realty

india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Movenpick Hotels, India hospitality news, Mumbai hospitality newsAs a part of their expansion drive in Asia, Zurich-based upscale hotel chain Mövenpick Hotels & Resorts has forayed into India by setting up its first property in Bangalore and also plans to open 12 additional properties over the next 5 years.

Speaking about the company’s plans going forward, Andreas Mattmuller, Asia COO of Mövenpick Hotels said that at present the hotel chain has 72 operational properties globally, while 29 properties are under construction.

‚ÄúIn India, we plan to open 12 properties by 2016. While hotels construction of the Dharmshala hotel is to begin by December this year, we are in talks to set up properties in cities including Jaipur and Udaipur in Rajasthan and is also looking at options in Noida, Kolkata, Chennai, Cochin, Goa, Gurgaon and Agra,‚ÄĚ he added.

Once these properties are operational, Mövenpick Hotels will have a capacity of 2500 rooms.

The plush hotel which sits on a 2 acre land is owned by MSR Hotel (Bangalore), while Mövenpick will only manage this property, like all the other properties it manages globally.

It expects to breakeven in three years according to Kodandaram Ramaiah, MD of MSR Hotel. ‚ÄúIn the first year, we expect the Bangalore property to have an occupancy rate of 60-65 per cent, quite in line with that of any hotel operators in India,‚ÄĚ he said.

Movenpick Hotels & Resorts to open 1st property in India

Posted on by Track2Realty

Movenpick hotels, Bangalore real estate news, bangalore hospitality news, india hospitality news, india real estate news, india realty news, india property news, property india, track2realty, track2media, ravi sinhaMovenpick Hotels & Resorts is set to launch its first property in India, the Movenpick Hotel & Spa Bangalore, which will have soft opening on June 1, 2011.

The upscale hotel is set to cater to India’s fast growing business travel market and signs a new phase in the company’s strong expansion within Asia and the Indian Subcontinent following marked growth in Europe, Africa and the Middle East.

The contemporary designed Movenpick Hotel & Spa Bangalore is set to offer five-star hospitality and is conveniently located near the main business districts of the city.

Andreas Mattm√ľller, CEO for Middle East & Asia said: “The Indian tourism sector is one of the fastest growing in the world and we are extremely excited about opening in Bangalore and entering the Indian market.”

Kodandaram Ramaiah, Managing Director MSR Hotel and owner of the upscale property, said he looked forward to a long and successful relationship with Movenpick Hotels & Resorts. “The company has built up a large profile in Europe, Africa and the Middle East and we look forward to drawing global travellers who know the brand, and introducing it to executives within the Subcontinent.”

Movenpick Hotels & Resorts has strong expansion plans in India and has recently announced a second property in the country, the Movenpick Dharamshala Resort & Spa, an exclusive 110-room resort in the Northern Indian Kangra Valley due to open in 2013.