Phoenix Group, a conglomerate based out of Dubai, on Wednesday entered the luxury hotel segment with the launch of its Zuri Hotels and Resorts.

The company, which is betting big on the Indian hospitality industry, plans to set up a chain of hotels across the country, including star rated properties in Nagpur, Ahmedabad, Kochi, Mysore, Chenai and Visakhapatnam.

Abhishek Kamani, director, Phoenix Group, said the company is looking for suitable properties. While he did not give out investment figures, Karmani indicated the foray would kick off with South India. It plans a tariff in the range of Rs 9,000-10,000 per day for the new hotels.

“We have already identified two properties in Bangalore with a total investment outlay of Rs 300 core. The properties will come up in White Field and near Bangalore International Airport,” he said.

According to Saurabh Gupta, associate director at hospitality and leisure consultant HVS, “Whitefield will come up as a separate micro market. The properties coming up in Whitefield will be able to meet demand of the IT industry as it is located away from the city.”

The company, currently, operates the resorts and spas under the Radison brand in Kumarakom in Kerala and Goa apart from the Country Inns & Suits in Goa.

Phoenix, which earlier had a franchise agreement with Carlson for three of its existing properties, has signed sales and marketing agreements with US-based Preferred Hotel Group for its recently launched five-star business hotel in Bangalore.

The Preferred Hotel provides reservation, sales and marketing services to more than 600 independent hotels and resorts in over 65 countries. Phoenix also plans to re-brand its two properties in the UK and Kenya under the name Zuri or Phoenix Global.

The Group is also working to merge all the group companies into one entity.
Priti Chand, director, PR & communication, Phoenix Group, said, “We have already started work on it and hope to finish the merger by mid-next year either under Zuri or Phoenix brand.”

The company plans to go public next year to raise fund for to expand it’s footprint across India. “We will either raise money through PE or IPO,” he added

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