The Hindu : Business : The Residency wears new look

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Thursday, Mar 05, 2009
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Business

The Residency wears new look

Corporate Reporter

CHENNAI: The Residency, Chennai, the forerunner of the Residency Group Hotels, has undergone a major makeover and is all set to attract customers.

Addressing presspersons here on Wednesday, K. C. Tharyan, Chief Executive Officer, The Residency Group of Hotels, said, the 3-star hotel, with 112 centrally air-conditioned rooms, was renovated at a total cost of Rs. 12 crore.

He said the Chinese restaurant, Chin Chin, was completely redone. The family dining restaurant, which serves buffet, was renamed Spice Bar.

The CEO said the food and beverage business had come down by 15 per cent and the occupancy ratio at The Residency by 12-15 per cent to 75 per cent. He said The Residency would contribute to over 20 per cent of the expected group turnover of Rs. 130 crore for the current fiscal.

Mr. Tharyan said the group was operating five properties — two in Chennai and one each in Bangalore, Coimbatore and Karur — having a total of 530 rooms.

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