| Pride Hotels Limited (the “Company”), which | | | | implementation of a multi-pronged expansion and |
| operates and manages a chain of hotels in India for | | | | growth strategy for the south Indian market. The |
| business travellers, has announced that The Pride | | | | average occupancy and average rate per hotel room |
| Hotel, Chennai, is fully operational now with 115 rooms | | | | in Chennai has been growing steadily over the years. |
| (59 Deluxe rooms, 33 Superior rooms, 18 Executive | | | | We are also exploring the possibilities of leveraging |
| rooms and 5 Suites), coffee shop, restaurant and | | | | our expertise and experience in tapping opportunities |
| two banquet halls. | | | | in marketing and managing hotels owned by |
| Catering to the business executives at the middle | | | | others.” |
| and senior management levels, The Pride Hotel, | | | | As per the FHRAI & HVS international: Indian Hotel |
| Chennai, is located at a distance of about three | | | | Industry survey 2005-06, the average occupancy of |
| kilometres from Mount Road, which is one of the | | | | hotels in Chennai has shot up to 78% in fiscal 2006 |
| main business centres in Chennai. The property is | | | | (up from 61.6% in fiscal 2004), which is higher than |
| spread over land admeasuring 9,904.25 sq. ft along | | | | other metros such as Mumbai, New Delhi, Bangalore |
| with hotel building of 80,000 sq. ft. comprising ground | | | | and Kolkata as well as the all India average (64.1%). |
| plus ten floors. The car parking and other amenities is | | | | Mr. Arun Nayyar, Director-Operations, Pride Hotels |
| spread over land admeasuring 4,147.5 sq. ft. | | | | Limited, added, “We have implemented a |
| The Pride Hotel, Chennai, presently has two food and | | | | multi-pronged strategy for setting up and operating |
| beverage outlets, The Treat and Casablanca. The | | | | hotels across various cities in south India. Our Chennai |
| Treat is a 24 hours coffee shop, which serves | | | | hotel is conveniently located to cater to business and |
| breakfast and varied food and beverage items. | | | | other guests. The F&B outlets enjoy independent |
| Casablanca is a fine dining restaurant, which serves a | | | | brand value among clients and we have an |
| variety of cuisines including Indian and Continental | | | | experienced management team and motivated work |
| accompanied with live music performance. The Pride | | | | force.” |
| Hotel, Chennai has two banquet halls. The individual | | | | “We wish to expand our presence in the major |
| capacity of each banquet hall is as under: Pavilion | | | | cities of south India. We wish to achieve growth |
| (1,612 sq. ft.) --- 150-175 people; Senate (510) sq. ft. | | | | through a combination of new hotels and increasing |
| --- 35-50 people. The Hotel also has a board room | | | | capacities at our existing properties. We shall leverage |
| admeasuring 190 sq. ft., which can accommodate | | | | our expertise and experience in acquiring and |
| 10-15 people for small meetings. | | | | managing existing hotel properties. The focus will be |
| Mr. S. P. Jain, Managing Director, Pride Hotels Limited, | | | | on corporate clients and building image and |
| said, “With the Pride Hotel, Chennai, becoming | | | | awareness of the ‘The Pride’ brand,” Mr. |
| fully operational, we have commenced the | | | | Jain said while talking about the future strategy. |