- Residency Hotels to invest $64 million in three new hotels.
- New properties to add 450 to 500 rooms in South India.
- Company also developing hotels in Mysuru and Maldives.
"An investment of about $53 million to $64 million has been earmarked for developing properties in new locations where we currently do not have a presence,” Ravi told ET. “ The hotels will be located in Tier I, II and III cities across South India and will collectively add 450 to 500 rooms.”
The company recently opened The Residency Signature, a luxury hotel and convention centre in Madurai, with an investment of around $48 million. The 191-key property is positioned to tap into destination weddings, MICE tourism and industrial growth in the region.
Ravi said about one lakh to 1.5 lakh foreign tourists visit Madurai every year.
“Moreover, rapid industrialisation is taking place in Virudhunagar and Thoothukudi districts, including shipping-related projects, creating tremendous business opportunities for us. We will also introduce two robots for restaurant services at the Madurai property,” he said.
The company is also working with Marriott to manage its second Maldives property, comprising 90 to 100 villas. The property is currently under construction and is expected to open in 2027.
Separately, Hyatt Hotels Corp. partnered with Brigade Hotel Ventures Ltd. and BCV Developers Pvt. Ltd. to develop Grand Hyatt Chennai and Hyatt House Bengaluru Devanahalli in South India.
