The Pride Hotel, Chennai, is Now Fully Operational

hotels

Pride Hotels Limited (the “Company”), which operates and manages a chain of hotels in India for business travellers, has announced that The Pride Hotel, Chennai, is fully operational now with 115 rooms (59 Deluxe rooms, 33 Superior rooms, 18 Executive rooms and 5 Suites), coffee shop, restaurant and two banquet halls.

Catering to the business executives at the middle and senior management levels, The Pride Hotel, Chennai, is located at a distance of about three kilometres from Mount Road, which is one of the main business centres in Chennai. The property is spread over land admeasuring 9,904.25 sq. ft along with hotel building of 80,000 sq. ft. comprising ground plus ten floors. The car parking and other amenities is spread over land admeasuring 4,147.5 sq. ft.

The Pride Hotel, Chennai, presently has two food and beverage outlets, The Treat and Casablanca. The Treat is a 24 hours coffee shop, which serves breakfast and varied food and beverage items. Casablanca is a fine dining restaurant, which serves a variety of cuisines including Indian and Continental accompanied with live music performance. The Pride Hotel, Chennai has two banquet halls. The individual capacity of each banquet hall is as under: Pavilion (1,612 sq. ft.) — 150-175 people; Senate (510) sq. ft. — 35-50 people. The Hotel also has a board room admeasuring 190 sq. ft., which can accommodate 10-15 people for small meetings.

Mr. S. P. Jain, Managing Director, Pride Hotels Limited, said, “With the Pride Hotel, Chennai, becoming fully operational, we have commenced the implementation of a multi-pronged expansion and growth strategy for the south Indian market. The average occupancy and average rate per hotel room in Chennai has been growing steadily over the years. We are also exploring the possibilities of leveraging our expertise and experience in tapping opportunities in marketing and managing hotels owned by others.”

As per the FHRAI & HVS international: Indian Hotel Industry survey 2005-06, the average occupancy of hotels in Chennai has shot up to 78% in fiscal 2006 (up from 61.6% in fiscal 2004), which is higher than other metros such as Mumbai, New Delhi, Bangalore and Kolkata as well as the all India average (64.1%).

Mr. Arun Nayyar, Director-Operations, Pride Hotels Limited, added, “We have implemented a multi-pronged strategy for setting up and operating hotels across various cities in south India. Our Chennai hotel is conveniently located to cater to business and other guests. The F&B outlets enjoy independent brand value among clients and we have an experienced management team and motivated work force.”

“We wish to expand our presence in the major cities of south India. We wish to achieve growth through a combination of new hotels and increasing capacities at our existing properties. We shall leverage our expertise and experience in acquiring and managing existing hotel properties. The focus will be on corporate clients and building image and awareness of the ‘The Pride’ brand,” Mr. Jain said while talking about the future strategy.

Pride Hotels Limited operates and manages a chain of hotels under the Brand name “The Pride Hotel” in Pune & Nagpur in Maharashtra; at Ahmedabad in Gujarat, and at Chennai in Tamil Nadu. In the four hotels put together, it has 430 rooms and operates 11 food and beverage outlets and 19 banquet halls. It has three subsidiaries namely Indralok Hotels Private Limited, Somti Hotels Private Limited and Pride Beach Resorts Private Limited. It also has an associate concern, Jagsons Hotels Pvt. Ltd. in which Pride Hotels Ltd., holds 22.34% of the Equity Share Capital. With a view to establish its presence in other travel and business destinations in India, it plans to set up hotels in Bangalore (Karnataka), in Mumbai and Alibaug (Maharashtra) and in Goa which are among the key travel destinations for leisure and business purposes. The hotels cater to all segments of guests for business trips, social events or leisure tourism. They are especially geared to cater to the needs of corporate customers at senior and middle management levels. Airline crew also forms an important customer category.