Kamat Hotels forays into luxury business
Vithal Kamat has groomed his two sons to take charge of Kamat Hotels and lead the company into the next level of growth, reports Lalatendu Mishra.business Updated: Nov 22, 2007 21:18 IST
Hotelier and restaurateur Vithal Kamat has groomed his two sons to take charge of Kamat Hotels, 73 per cent of which is owned by promoters, and lead the company into the next level of growth.
Kamat Hotels (India) is better known for the chain of south Indian restaurants it operates and the 'Orchid', the country's first 5 Star Ecotel.
Vishal Kamat, 25, and Vikram Kamat, 23, both hotel management graduates are readying to roll out their father's dream project VITS that would set up their foray to set up luxury business hotels across the country, besides other initiatives.
The company would start with 26 hotels in Maharashtra, Karnataka and Goa to be operational by 2010. Several other projects were also gearing up for launch, while six VITS hotels would be ready by 2008. The company would invest Rs 500 crore in its foray into the luxury business hotel segment, Vithal Kamat, CMD, said.
Kamat conceived the VITS project, which is now ready for launch, two years ago to establish a pan-Indian presence for Kamat Hotels. The Mumbai-based listed company's hotel in the city, 'The Lotus Suites', has been upgraded and would be launched as the flagship VITS, and would cater to mid-and senior-level company executives.
"There is a dearth of good hotels in district-level cities and company executives are finding it difficult to stay overnight. This is why we thought of opening luxury business hotels across the country in line with the future growth opportunities in Tier II and Tier III cities," said Kamat.
Kamat said both his sons were taking "keen interest in day-to-day affairs and providing fresh direction to the company's growth plans".
First Published: Nov 22, 2007 21:07 IST