Phoenix Group Global, which has a presence in the country’s hospitality and real estate sector through the Radisson White Sands in Goa, the Radisson Plaza Resort and Spa in Kumarakom and two premium villa real estate projects coming up in Goa, plans to expand its footprint across the country.
It has embarked on a premium business hotel project in the IT corridor of Bangalore at Whitefield, the construction of which is in progress, Ms. Priti Chand, Director (PR and Corporate Communications), said.
It has also acquired prime land located adjacent to the new international airport at Devanahalli in Bangalore. The group is also at an advanced stage of discussion for the procurement of sites for business hotels in Chennai and Hyderabad. Plans are afoot to set up new hotel ventures at Kochi, Ahmedabad and Jaipur.
The group plans to invest between Rs 1,000 crore and Rs 1,500 crore in the real estate and hospitality sectors in the coming years.
The two upcoming real estate ventures in Goa, built on 200- and 150-acre properties, would be super luxury villa-apartment ventures. The 200-acre project would also have an 18-hole golf course as well, Ms. Chand said. While the 160-room Goa Radisson White Sands was completed at a project cost of Rs 200 crore, the 18-acre Radisson Plaza property in Kumarakom with six acres of artificial lake was completed at a cost of Rs 150 crore.
The Group has been very selective about its properties and its locations so far, Ms. Chand said, pointing to the high-end Kenya resort, which is a super brand in itself. The group’s 150-acre floriculture venture in Kenya consisting of two rose farms has also been a success, exporting 100 million cut roses every year to the UK, West Asia and Holland. At a later phase, the group is also likely to enter the horticulture sector in India.
One year after the Kumarakom property was launched in Kerala in 2006, the occupancy levels stood at 40 per cent. The group is now planning to properly market the property in international tourism fairs to gain greater exposure and visibility among the elite and independent international travellers.
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