Paul Hotels & Resorts to Launch Two New Properties in Karnataka
Paul Hotels and Resorts is embarking on a venture to establish a five-star hotel chain in South India, commencing with business-class hotels and resorts across Karnataka. The initial phase will focus on prominent locations such as Bengaluru, Mysore, Hampi, and Coorg.
Tapping into Karnataka's Tourism Potential
According to Shelly Thayil, Director of Operations at Paul Hotels and Resorts, they aim to capitalize on Karnataka's substantial tourism potential, further bolstered by incentives provided by the state government.
Mysore and Hampi Projects
In Mysore, the group has secured a five-acre plot for a 180-room hotel, entailing a Rs 150 crore investment. Simultaneously, it's in the process of acquiring 30 acres of land near the Tungabhadra River in Hampi for a 75-suite heritage property. The first phase of the Hampi project is estimated at Rs 30 crore.
Phased Development Approach
Paul Hotels and Resorts anticipates both properties to be operational within two years. Thayil explains that the group embraces a phased development approach. This strategy provides adequate time for trials and incorporates guest feedback for necessary adjustments.
Tax Holiday Advantage
Thayil also notes the timely announcement of tax holidays for hotels located in UNESCO-certified heritage sites in India, a move that will likely benefit the project presently under development in Hampi. "We develop all our properties in phases, as this gives us enough time for trials. This model also helps us to work on our guests’ feedback, after which we make the necessary changes," offers Thayil. Commenting on the tax holiday for hotels in UNESCO-certified heritage sites in India, Thayil feels that this announcement has come at the right time. The Hampi property is in the drawing board stages.