Brigade Hotel Ventures eyeing spiritual & leisure destinations in north and west

Chennai: Brigade Hotel Ventures (BHVL), which primarily operates business-category properties in South India, is looking to expand its footprint in northern and western states in the spiritual and leisure segments. The hospitality arm of the Brigade Group is eyeing destinations including Goa and Varanasi. "We are looking at Goa and Mumbai in the western region. In north India, we are looking at Varanasi and Rishikesh. Of course, Ayodhya as well in the long term," BHVL director Vineet Verma told TOI. Depending on the location, the new properties will be either four-star or five-star category facilities, he added. Alongside executing greenfield projects, the company is also exploring brownfield opportunities. "We are looking at acquisitions, not just pure greenfield projects, going forward. The reason is that you can hit the ground running and start the hotel business much quicker. Typically, it takes about three to four years to build a new hotel. If we acquire an operating hotel, we only need to renovate it, which takes about six months to a maximum of one year to commence operations," he said.Currently, BHVL has a portfolio of nine operating hotels across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City in Gujarat, with more than 1,600 keys. Nine new properties are in the pipeline in the south, including ECR and OMR in Chennai, Hyderabad, and Thiruvananthapuram, which will add another 1,700 keys over the next three to four years. "We are investing more than Rs 3,000 crore for this expansion. While we developed over 1,600 keys in the past 16 years, we will double that number in just four years," Verma said.
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