Varun Group to set up 200-room 5-star hotel in Vijayawada
A new 5-star hotel will be set up in Vijayawada by the Varun Group, a company which is a well-known name in automobile, hospitality and construction arena. The company reported a turnover of Rs 2,000 crore during 2013-14.
The Varun Group’s 5-star hotel in Vijayawada will be a property comprising 200 rooms. According to the Varun Group’s chairman V Prabhu Kishore, the total investment which will be required for the Vijayawada 5-start hotel project will be approximately 200 crore.
The hotel in Vijayawada will be the Varun Group’s second 5-star hotel venture. The company already operates a 5-star hotel in Visakhapatnam. That hotel, which the Varun Group runs in collaboration with Novatel – has 226 rooms.
About the Vijayawada hotel project, Kishore said that the Varun Group has secured all the requisite approvals to go ahead with the project. Revealing that the construction work on the project will be started in September this year, Kishore said that the company expects the project to be completed – and the hotel to be operational – by 2018.
In addition to the 5-star hotel project in Vijayawada, the Varun Group also has efforts underway to set up resort-cum-service apartments, with 30 luxury rooms, at Bhimili beach. For the mentioned project, the company’s plan outlay is Rs 15 crore; with the operations at the project scheduled to begin in two to three months.
Source – Business Standard
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