Hospitality boom in Coimbatore
The hospitality sector in Coimbatore appears to be in a take-off mode with investments pouring into textile, engineering and other manufacturing sectors and development of IT and ITeS sector gathering momentum. “Hotels now have seen more than 60% occupancy rate during the off-peak season and it goes up to 90% in peak season due to the boom in textile mills, foundry units, pumps and auto components manufacturing units,” a source said.With almost all the IT majors announcing their plans for Coimbatore, the occupancy level is always high. Property consultancy major TrammelCrow Meghraj’s estimates show that the average occupancy rate annually has increased from 56.4% in 2001 to 70% in 2006. The average rate of the rooms across all types has increased from Rs 1,366 in 2001 to Rs 1,500 in 2006.
The boom has attracted many players to the city. Taj Hotels group had taken over Surya International and PGP grou has acquired the erstwhile Shogun Regency for a new hotel. The new Taj Business Class hotel is to come up on 2.17 acre with 200 rooms and modern facilities.
