Sunil Mantri looks at ambitious hospitality foray
Sunil Mantri Realty Ltd will develop ten 3-star hotels in 2010. Sunil Mantri, the company’s CMD told Construction Week India in an exclusive interview that his Group has very ambitious plans in the hospitality sector.
"Basically, we have a very good land bank available and at some places the location is quite ideal for the development of a 3-Star or a 4-Star hotel property," he said. Mr Mantri is not looking at the 5-Star segment as of now. "I am not looking at 5-star hotels. I want to focus on the 3-Star and the 4-Star categories where I don’t have the mad rush and which is more affordable."
The Sunil Mantri Realty Group is planning to set up 10 properties across India in 2010-2011 in the 3-star category matching to 4-star category. "The average model that we are following is 100 to 200 keys at each place with a reasonable tariff and our in house management where the cost will be bare minimum," Mr Mantri informed. The 3-star properties will be developed, operated and managed in house by the Mantri Realty Group under a new brand name – Man Tree.
However, the Group will tie-up with 5-Star operators for the operation of 4-star properties. "We have an "in-principle" tie-up with Oakwood for 4-star deluxe serviced apartments. It is a 200-key property on the outskirts of Mumbai – basically in the suburbs. The project will take shape by March-April 2010," he stated.