Sofitel eyes 10 properties in India in couple of years
Oct 10, 2013
Source : The Economic Times

 

MUMBAI: Sofitel, a French luxury hotel chain managed by Accor Group, is eyeing 10 properties in India, mainly in prime luxury destinations, in a couple of years, a top company executive said.

"Currently, we have one property in India which has completed a year. We have two more hotels coming up under Sofitel Luxury Hotel and Sofitel So brands. We hope to sign another seven management contracts taking the total to 10 in a couple of years," Sofitel Luxury Hotel senior vice-president, Asia Pacific, Markland Blaiklock told PTI here.

Both the hotels are coming up in Mumbai and are expected to be operational by 2017, he said.

The company, which has aspirations for further development in India is looking at cities like Delhi, Bangalore, Chennai and Goa for its 3 brands--Sofitel Luxury Hotel, Sofitel Legend and Sofitel So, he said.

"While Sofitel Luxury Hotel is about luxury, Sofitel So focuses on design with boutique hotels and resorts. Sofitel Legend one the other hand is a seal, a private club of timeless establishments, often with historical and century-old buildings," he said.

Blaiklock further said the company, though being a management contract firm, also supports the owner in terms of financing through loan at the beginning of development of a property or through equity investment if the location of the property is very important or strategic.

When asked about challenges that international hospitality brands face in India, he said, "the economic growth is not as strong it has been few years back. Further, there are challenges of lack of availability of skilled workforce and licensing requirements, which takes a lot of time."

Sofitel globally has 120 properties of which 40 are located in the Asia Pacific Region.

Currently, Sofitel has 500 people in its workforce, which will go up to about 5,000 when all the 10 properties will be operational. Globally, the company has a workforce of 25,000 of which 15,000 are in Asia Pacific.

 

Latest Realty News

Bombay High Court to decide on transfer of Lavasa case to green tribunal
Oct 10, 2013
MUMBAI: The Bombay High Court today said it would decide whether the case pertaining to alleged irregularities by Lavasa township near Pune can be transferred to the National Green Tribunal, set up to handle environment protection related issues.
Now, BMC to form buildings safety panel
Oct 09, 2013
MUMBAI: In the wake of the building collapse in Mazagaon, the BMC will form a standard technical advisory committee (STAC) to monitor building safety in a scientific manner. This committee will function on the lines of the civic body’s STAC for roads and will play a crucial role in deciding the nature of dangerous categories for dilapidated buildings in the city.
Andheri East is an attractive proposition for Mumbai homebuyers
Oct 08, 2013
MUMBAI: Andheri east has gained prominence in both, residential and commercial segments lately. It is an industrial area and also a MIDC-SEEPZ zone. The Chhatrapati Shivaji International Airport is an important landmark here. The upcoming Mumbai metro and its close proximity to the western express highway ensure that any project here will see increasing valuations over the years. Ramesh Nair, managing director west, Jones Lang LaSalle India, says, “The area has now become a hot property destinat
Right time to invest in the Goregaon-Borivali growth corridor
Oct 08, 2013
MUMBAI: For people looking for well-designed living spaces with beautiful landscapes, the glitziest malls and commercial outlets – all within a walking distance, Goregaon west is the ideal location. Off the western express highway, Goregaon west has emerged as an upscale commercial and residential destination in the western corridor of Mumbai.
The evolution of Kandivali as a residential hotspot in Mumbai
Oct 08, 2013
MUMBAI: Kandivali has seen a drastic transformation in recent times. Homebuyers prefer this location due to its proximity to important commercial centres, like BKC and Andheri. With projects focused on modern lifestyles and amenities coming up in the area, buyers have another reason to rejoice. There are a number of exceptional facilities, like schools and colleges, restaurants, theatres and gardens in Kandivali; the area has undergone a complete makeover.
Selling a 17-acre project in South Mumbai, Lodha style
Oct 08, 2013
MUMBAI: From outside, the metal and glass facade of Lodha’s new residential project, The Park in Pandurang Budhkar Marg in Mumbai’s office hub Worli, looks like a corporate headquarter. The 10,000-sq-ft sales office inside, with quotes by renowned poets on glass walls, is equally striking.
Realty shares in focus on hopes of good Q2 sales
Oct 08, 2013
MUMBAI: Shares of real estate companies are in focus, surging up to 10% after Sobha Developers have recorded good set of sales numbers for the month of September.
‘Reserve 20% area for low-income housing’
Oct 07, 2013
MUMBAI: A year after the state stalled its draft notification following objections from developers, it is set to issue a the final notification making it mandatory for developers to reserve 20% of areas of more than over 2,000 sqm for affordable housing.
Do your groundwork before you buy
Oct 06, 2013
MUMBAI: Are you wondering if you should buy a property right now or wait for the dust to settle? If you are buying a home and planning to live in it, this may be a good time to be on the look out. This is because there are many unsold homes and builders are willing to negotiate with serious home buyers. However, risks of project delays and defaults will have to be factored in before you actually ink a deal.
Isolux Corsán awarded 6 new contracts in India
Oct 05, 2013
MUMBAI: Isolux Corsán has been awarded 6 new contracts for the construction of different infrastructures in India, where the Company totalling the amount of 175 M€.

Latest Realty News Of State

Realty Talk's