Power List 2017, Zaid Sadiq, Executive director, liasoning & hospitality, Prestige Group
2016-17 has been quite an exciting year for Prestige Group’s hospitality division as Bengaluru emerged as a preferred city for MICE events. And the coming year is no different.
“In 2017-18, we will inaugurate two of our biggest hotel developments – the Sheraton Grand Bengaluru Whitefield Hotel & Convention Center in Prestige Shantiniketan and The Conrad Hotel, Ulsoor. The year looks promising with other developments in the pipeline,” said Zaid Sadiq.
The company will continue to invest in technology in real estate construction to offer better RoI to owners and hotel brands. “Green hospitality with energy-efficient technology is the way forward. For most properties, energy is among the top three highest costs, so efficiency efforts are an attractive proposition to yield financial savings. Voice Over Internet Protocol is one such technology that allows guests to place calls using the same wire that is used to provide internet as well. This way, while simplifying the process for the guest, the hotel can also look at controlling investment on separate equipments,” said Sadiq.
Again, hotel investment is different from conventional real estate investment as hospitality requires specialised asset management skills to be able to deliver the anticipated returns. “Our strategy is to own and associate with potential partners to operate assets in an effectual and professional manner. A major challenge that most developers face is finding a brand that can handle the hotel operations and management skilfully. Fortunately, we have had the opportunity to liaise with International brands like Starwood (now Marriott) and Hilton, who made the entire transition process, from development to daily operations, easier and hassle free for developers as well as customers,” concluded Sadiq.
By Vinita Bhatia