CITRUS Hotels & Resorts launches Citrus Hotels Gurgaon Central
The Citrus Gurgaon Central, a 46 room property, has been taken on a long lease and is now fully operational.
Kurian Varghese, General Manager - Travel Trade, Citrus Hotels speaking about the launch said, “The NCR region has a total inventory of 22,900 Keys of which 75% is accounted by the organized sector. The organized segment in the region has 17,550 keys in the pipeline over the next five years. According to the Airport Authority of India, the highest number of air arrivals was recorded in NCR (18.2 million) with the domestic arrivals accounting for 12.7 million and foreign arrivals of 5.5 million. We are, therefore quite confident, that Citrus will do well from the first year of operation. Being a smaller inventory hotel, we have the advantage of choosing the best price business.”
A Cushman& Wakefield Report on the Indian Hospitality Sector shows that the organized inventory segment had increased by 64% during 2008-2012 H1 and has witnessed a 7% increase in the inventory over 2011 across all segments. The midscale segment has seen the highest increase in number of keys at 102%, followed by upscale inventory which increased by 88%. The increase across the budget segment (72%), upper upscale segment (64%), and luxury with 32% were also significant.
The Citrus Hotels Gurgaon Central property will have trademark outlets like BISO (the coffee shop), 60 ml (the bar) and are in the process of setting up SKYLIT, a rooftop restaurant. The 46 well-appointed rooms are in the Superior, Deluxe, Premier and Suite categories. The key feature of the hotel is their meeting and conference room which is Citron 1 with the area of 1200 sq ft and Citron II with the area of 650 sq ft. Both of the conference halls are fully equipped with high speed Wi-Fi internet and LCD projector. The hotel also has a swimming pool and fitness centre.
Citrus Hotels plans to increase its presence in North India and will look at either leasing additional properties of setting-up their own properties in other North Indian properties.
India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.