Claridges repositions itself as boutique chain

To invest over Rs 2,500 cr

Praveen K Singh - New Delhi

The Claridges Hotels & Resort has announced plans to reposition itself as a boutique chain. In an exclusive interview with Express Hospitality, the newly appointed CEO and president of the group, Peter Leitgeb, disclosed, "We plan to promote The Claridges Hotels & Resorts as a true boutique chain with each property that is unique and gives personalised service to guests." He declared that it also plans to get into service apartment later.

The group is also looking for hotel plots across the country. "We are planning properties in locations like Bangalore, Pune, Hyderabad, Chennai and Kolkata. We would definitely like to have presence in Kerala, which attracts maximum number of foreign travellers," informed Leitgeb.

However, he said that the expansion will be in phases and two to three new properties will be launched per year. "The expansion could be through management contract, equity proposition and strategic alliance. We also plan to set up a management company that will have the necessary arrangement to take up management contracts within the country and abroad," he added.

Talking about the investments to be made in various projects, he disclosed that it will be to the tune of Rs 2,500 crore, which will be raised through various alternatives. "As a matter of fact, we also plan to list the company on the London Stock Exchange (LSE) thereby raising about US$ 250 million in the next few years," Leitgeb revealed. The group is also looking for an international sales marketing company, which can promote the brand in the international market.

Further, the group also plans to start on The Claridges, Surajkund by October 2008, which will be around 250-room property in NCR. This five-star property will cater to corporate clients, MICE segment and leisure travellers.