Travel India Marketing launches serviced apartment in Malad

Mumbai-based Travel India Marketing has announced the launch of a 60-room standalone serviced apartment in Malad. This project, which entailed an investment of Rs 15 Lakh, represents a strategic expansion into the commercial sector.

Project Overview

  • Launch Phase: The company has initially opened three apartments, with plans to open the remaining units within the next six months.
  • Room Types: The facility comprises 25 apartments, offering a combination of three and four bedrooms.
  • Target Audience: Aimed primarily at corporate visitors requiring long-term stays, especially those working in and around the Malad area and the Mindspace business park, which houses more than 200 companies.

Pricing and Amenities

  • Promotional Rates: Rooms will be available at a discounted rate of Rs 3,500 per night until January 1, 2009. Post this period, the tariff will increase to Rs 4,500 and above.
  • Facilities: Each apartment features three or four rooms, a balcony, a common hall, and a lobby area. Guests can also avail a 24-hour butler service, with homemade food provided on request.

Industry Context

"Service apartments are gaining popularity in Mumbai. There is always a room crunch in November every year especially for long stay guests. Also, companies are cutting down on the cost owing to the recession. Serviced apartment is the next best alternative. There are 9,000 rooms in the five-star category alone in Mumbai which is expected to increase to 11,000 by 2011."

This initiative underscores the growing demand for flexible, cost-effective accommodation options, particularly during high-occupancy periods in Mumbai's hospitality market.