Leela Hotels Group to manage new Five Star Deluxe Hotel and Serviced Residences at Gurgaon
Hotel LeelaVenture Limited has signed a Management Agreement with Ambience Hotels and Resorts Limited to manage a Five Star Deluxe Hotel with 319 guestrooms and suites and 90 Serviced Residences which is under construction at Gurgaon. The Mumbai based Hotel group was selected after a number of leading international hotel companies had been evaluated for the prestigious development;
the most up-market of the hospitality projects being implemented in Gurgaon.
The Group plans to enter into more such management agreements selectively in India and abroad provided that the standards of the hotels would be in keeping with the
Leela and its affiliate Kempinski's high standards.
The Leela Kempinski Gurgaon and The Leela Residences will be part of an upscale, mixed-use development located on a plot of about 5 acres which includes an up-market Shopping Centre admeasuring 15,000 sq. mtrs. Strategically located just across the Delhi border, the development has the unique feature of having a 1 km. long frontage alongside National Highway No. 8 leading to Gurgaon City.
The new property would cater to up-market clientele belonging to the same marketing segments i.e. IT, ITES, BPO and other Corporate Business as its highly successful hotel Leela Palace Bangalore which is the market leader in that city as well as in India with the highest amount of Average Room Rate in the country of over Rs. 20,000 per day, per room.
The hotel building would have a modern architectural façade. The interior design by the renowned architect firm of U.S.A. It would be contemporary in approach but with distinctive Indian touches and features.
The hotel would feature superlative restaurants and bars including an all-day dining restaurant and 2 specialty restaurants offering classical Indian and Pan-Asian cuisine. The hotel would have extensive banquet and meeting facilities totaling over 15,000 sq. ft. An extensive Spa and Fitness Centre admeasuring over 12,000 sq. ft. would offer various therapeutic treatments including Ayurveda.
The oversized guestrooms with 45 sq. mtrs. (484 sq. ft.) feature state-of-the-art walk-in shower stalls. The purposefully built serviced residences with a separate entrance and guest elevators feature ensuite compact kitchens with contemporary and stylish studio, one bedroom, two bedroom and three bedroom options.
The Civil works of the Hotel is fast nearing completion and it is expected that the hotel would be operational in April, 2007.
The Leela Palaces and Resorts presently owns and operates 4 properties with 1001 guestrooms i.e. Mumbai with 406 guestrooms, Bangalore with 256 guestrooms, Goa with 152 guestrooms and Kovalam, Kerala with 192 guestrooms. After all the current projects are completed the Companies turnover and corresponding nett profit is expected to double.
The current 5 projects under implementation would add 1546 guestrooms; thus increasing the total inventory to 2547 guestrooms by 2008. This includes expansion of the Bangalore hotel by 144 guestrooms to make it a total of 400 guestrooms, Udaipur with 77 guestrooms, Gurgaon with 319 guestrooms and 90 Serviced Residences, Chennai with 416 guestrooms, Hyderabad with 300 guestrooms and Pune with 200 guestrooms.
All the properties would continue to have the tie-up with the most prestigious European chain, Kempinski Hotels which Leela is associated with since 1987. Kempinski is the oldest Hotel Group in Europe established in 1897 and with about 75 hotels worldwide.
As is the case of Bangalore, Goa and Kovalam where The Leela is the market leader in terms of RevPAR (Revenue Per Available Room). The Leela Group expects the new world-class Palaces and Resorts also to be market leaders in the respective destinations.
As per the unaudited financial results for the nine months ended 31st December 2005
of the current financial year, the Company has posted a turnover of Rs. 226.66 crores
an increase of 26% over the corresponding period of the previous year . Also the corresponding net profit for the said period has been Rs.63.30 crores an increase of
215% over the previous corresponding period of the year. In view of the current robust occupancy trends of the fourth quarter it is expected that the turnover and the net profit of the Company for the fourth quarter would be even substantially better than the previous quarter
