HomeIndustry NewsNot Investment but lack of facilitation hindering our new Hotel in Vizag

Not Investment but lack of facilitation hindering our new Hotel in Vizag

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Identifying Vizag to be an ideal place for Tourism and hospitality, Mr Prabhu Kishore, Chairman of the renowned Varun Group has said that the group is all set for starting construction on its new hotel property but due to lack of grant of certain incentives the project has been delayed.

The automobile to hospitality conglomerate Varun group owns the iconic Novotel Varun beach in Vizag along with Novotel Vijayawada, Novotel Bheemli and also Taj gateway Vizag.

It is the Taj gateway property which the group had acquired in 2018 for a massive Rs 120 crores for which it has been contemplating redevelopment for a long time. 

The group entails to spend a whopping Rs 600 crores on the redevelopment of the Taj gateway property.

‘As per the new tourism policy there are certain incentives which we are entitled to get as the project is above Rs 500 crores however for some reason has not yet been granted to us. 

Once we get these cleared, we shall soon begin with our investment’ said Mr Prabhu Kishore addressing a packed room of audience at the recently held CII Visakhapatnam Conclave on economic growth drivers & real estate development.

‘Once built I can assure you this project will be rated among India’s top iconic tourism projects ever built’, said Mr Prabhu Kishore on the redevelopment of Taj Gateway, Vizag.

Elaborating on the project Mr Kishore said that the redevelopment of Taj gateway will encompass a 400-room star category hotel, office block, serviced apartments and other amenities.

‘We want government to play a role more of a facilitator rather than a regulator’ said the chairman Varun group and added that typically infrastructure needs to comes first followed by development however most of the times it’s the opposite wherein development takes place quickly and then we are trying to ramp up infrastructure.

Sports Tourism

With Vizag’s dual scenic beauty of ocean and hills Mr Kishore highlighted sports Tourism as an area of immense potential.

‘How long can one just keep staring at the ocean’ quipped Mr Kishore. There is a myriad no of opportunities one can leverage with Vizag’s blessed geographic location Theme parks, water sports etc. can change the face of Vizag Tourism said Mr Kishore.

Albeit tourism holds huge potential the reality is that growth in this sector has been abysmal over the past many decades, said the Chairman Varun Group.

I can assure you this project once built will be rated among India’s top iconic tourism projects ever built.

Mr Prabhu Kishore, Chairman, Varun Group

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