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Hyderabad-based real estate developer, Sri Aditya Homes, has forayed into the hospitality business and launched its first property in the twin cities.
The new three-star, 33 delux room boutique hotel, Ebony, is at a location that the company feels is highly underserved.
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“Location plays a very important role and that’s why we have opened our hotel in the heart of the city. Corporate travellers find it convenient to stay close to the business district and save time travelling,” said Ananth Badhe, director, Ebony boutique hotel.
Sri Aditya Homes is looking to further expand their business portfolio into hospitality.
“I think the time is just right for stand-alone and mid-market hotels,” said Badhe.
The management aims to have an occupancy rate of 80%. The project cost of the hotel is pegged at Rs.8 crore, 50% of which is funded privately and the rest through public funding.
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COMMENT
Sounds like an exciting project!