Buoyant Peerless Hotels Ltd eyes 30% rise in revenue following revamp
The hotel property in Gachibowli is running at a 99 per cent occupancy rate
image for illustrative purpose
The third and fourth floors of the rechristened Peerless Hotel are being re-launched as Club Eminence with 32 swanky rooms and suites, which are a visual treat, thanks to the pleasant aesthetics. A single point of contact will ensure seamless check-ins and check-outs of guests, taking care of everything in between like dining and entertainment arrangements
Buoyant over the successful turnaround of its hotel property in Hyderabad, Kolkata-based Peerless Hotels Ltd, an arm of the 90-year-old Kolkata-headquartered PGFI, has drawn up an ambitious plan to double the number of keys under its fold across all properties, scaling them up, wherever possible, to full four star and eventually five star properties over a period of five years. Simultaneously with this, the company is upgrading, re-branding and repositioning its iconic property in the heart of the city-Peerless Inn, Kolkata as Peerless Hotel, Kolkata.
The 30-year-old hotel chain presently has 450 keys across its five properties spread over Kolkata, Hyderabad, Port Blair, Durgapur and Mukutmanipur.
“We have around 450 rooms right now and have an ambitious plan of doubling this number over the next five years. We are in the process of upgrading the Kolkata hotel and looking to scale it up to full 4-star at the moment- if there is an opportunity, we will explore moving into the 5-star category as well,” said Kuldeep Bhartee, the new CEO of Peerless Hotels Ltd.
“We have started the process of internal consolidation, which should take around two years to complete. We are also in the process of thoroughly revamping our other existing properties as well,” he added.
Refusing to divulge the amount earmarked for the entire exercise, Deboshree Roy Sarkar, Director, Peerless Hotels, said that the entire funding is by way internal resource generation. She said that although the group does not have any plans for inorganic growth at this point in time, they are open to acquisition, if the right opportunity comes at the right moment and at the right price. She said that the Hyderabad property, which has 65 keys, had been acquired in 2015 when it was in a bad shape. The hotel property in Gachibowli is running at a 99 per cent occupancy rate. The property also has nearby tourist attractions like the Jagannath Temple. This turnaround has encouraged them to take up the upgrading plans.
For instance, the third and fourth floors of the rechristened Peerless Hotel are being re-launched as Club Eminence with 32 swanky rooms and suites, which are a visual treat, thanks to the pleasant aesthetics. A single point of contact will ensure seamless check-ins and check-outs of guests, taking care of everything in between like dining and entertainment arrangements. The 24x7 manned one-touch dial contact will ensure that the guest is never unattended. With the expansion plans in place, Peerless Hotels is looking at a 29-30 per cent revenue growth, said Sarkar.
