Taj GVK Hotels to go ahead with investments plans

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Taj GVK Hotels to go ahead with investments plans

The economic slowdown provides opportunity to make fresh investments in the hospitality sector and be ready with additional capacity when the turnaround happens, according to Mr G.V.K. Reddy, Chairman, Taj GVK Hotels & Resorts.

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Hyderabad, Dec. 7

The economic slowdown provides opportunity to make fresh investments in the hospitality sector and be ready with additional capacity when the turnaround happens, according to Mr G.V.K. Reddy, Chairman, Taj GVK Hotels & Resorts .

"When these projects get ready in the next 18 to 24 months, we will be well placed to address the growing business in the market," Mr Reddy said.

In a conversation with Business Line, Mr Reddy said "Though hospitality sector watchers have different views on its prospects, we continue to be very positive on the overall outlook when you view holistically various aspects of a growing economy."

"India has a huge shortage of well laid-out rooms, offering immense scope for growth," he said

"Our three major properties in Hyderabad and another one at Chandigarh are doing well. They have had occupancy levels of over 80 per cent and we have not yet seen any impact of the slowdown. In fact, we continue to scout for opportunities to invest in new projects," he said.

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