Newstrack

Victora group forays into hotel sector

Dinkar Farwaha - Mumbai

G S Banga

Auto parts major, Victora group, has ventured into the hotel sector. In an exclusive interview with Express Hospitality, GS Banga, chairman, Victora group of industries, said, "We have decided to enter the hospitality industry with a new company 'Victora Hospitalities'. In addition, we also plan to build five-star properties in the emerging cities of the country."

The first property on the radar is a five-star business property in Greater Noida. The group has already acquired the land in the city and will be building a 200-room property, the construction of which will start in the first quarter of this year (2008). "There is a demand-supply mismatch of quality rooms in Greater Noida. With an international airport and a Formula One racing track coming up in the city, the demand is expected to grow even further. We aim to bridge this gap."

Victora Hospitalities will tie-up with an international hospitality major for the management and franchise of the property. It is investing a sum of Rs 100 crore to build and develop the property and plans to open it next year. The group is eyeing a presence beyond Greater Noida as well. "We are looking for acquisitions in the growing tier-II cities of the country," informed Banga. Victora Hospitalities, according to Banga is also looking at entering into medical tourism.