Often counted to be one of the first five-star hotels that the city of Visakhapatnam got to witness, Sea Pearl as it was earlier known in 1988 later transitioned into Taj Residency (in 1992) and then rechristened to Gateway has always been a beacon of luxury hospitality for many residents in the city and also to the plethora of guests that came here to stay.

After 36 years of cherished hospitality ‘The Gateway hotel’ closed its doors on November 15th only to come back in a new and even more luxurious avatar a few years from now.

The Prabhu Kishore led Varun group which had bought the property in 2018 at a whopping Rs 130 crores has finally drawn up plans to start construction on what it calls a mixed-use project encompassing a 5-star deluxe hotel, grade one office space, luxury retail and serviced apartments.

‘We all have fond memories of Taj Vizag (now Gateway) as many of us have dined here on numerous occasions’ said Mr Kishore speaking exclusively to Vizag Industrial Scan. Stating that he was faced with 4 realistic options for the property he chose the toughest of them.

‘To be honest I had 4 options which I could have opted for i.e. renovate the property with about Rs 25-30 crores, built apartments and made enormous amount of money, sell the total property which is probably the easiest and reduce our overall debt or last re-develop to what I believe will be one of the most celebrated and sought after places in Vizag.

I chose the hardest and toughest option among them’ quipped the Chairman of the Varun group that operates the flagship Maruti automobile dealerships in both AP and Telangana and also owns the Novotel Vizag and Bheemli resort.

It sure sounds daunting if one goes by the group’s proposed plans for the re-development. The new project envisions having 3 towers wherein one tower will house the 5-star deluxe hotel having 374 rooms all sea facing, a large convention facility & a helipad.

The second tower will boast 280,000 sq ft of grade one office space coupled with luxury retail and the third tower will open its doors to fully serviced apartments served by the hotel.

‘I must tell you that ever since we bought this hotel in 2018 Varun hospitality has been planning on a mega project like this which is inspired by Marina Bay Sands, Singapore.

I would be doing injustice to this beautiful and scenic place if something mesmerizing and inspiring is not built here’ opined Mr Kishore.

With these grandiose plans there is a hefty investment that the group is gearing up to invest.  As per Mr Kishore the group is looking to invest over Rs 500 crores on its re-development wherein 50% will be met thru debt while the other 50% thru internal funds/equity.

Ask him if Vizag can economically sustain a project like this Mr Kishore states that Vizag with the upcoming greenfield airport coupled with picturesque locales and beaches has immense potential for tourism.‘Vizag is far-far better than Goa.

With 30kms of straight beach stretch, less crime and much more affordable rates than Goa, Vizag has a lot more to offer.

We can easily divert people visiting Goa to Vizag with 50% less hotel rates’ said the chairman of the Varun group.

The project is slated for completion by the end of 2028 and with Mr Kishore’s passion and love for the city one can assess that the project would be one of its kind.

To put it in Mr Kishore’s own words “Varun group believes that Vizag deserves the Best and the group is firmly committed to deliver the Best”.