The lobby opens into a small lawn surrounded by the hotel on three sides. There is a 10-foot bust of Devi in bronze, copper and brass at one end; on walls facing each other Satish Gupta has done a mural of a thousand lotuses in brass covered with 22-carat gold.
All told, Capt Nair (he served in the Maratha Light Infantry till 1950 and entered the world of hotels only in 1987 when he was in his 60s) has spent Rs 1,700 crore (Rs 17 billion) on the 260 rooms and suites. At Rs 6.53 crore (Rs 65.3 million) per room, this is the most expensive hotel ever built in India.
Capt Nair's detractors will give you good reasons why his premium gamble will not work -- his lowest tariff of Rs 20,000 a night is above rivals like The Oberoi (Rs 18,500) and ITC Maurya (Rs 18,000), though it is lower than the Aman (Rs 27,000).
"We are confident about the hotel's success as it is the first new hotel in downtown Delhi in the last 30 years to come up in an upmarket area which is in close proximity to the Rashtrapati Bhavan, embassies and the central business districts," says Capt Nair.
The new hotel, located in the diplomatic enclave of Chankayapuri, has been financed two parts by debt and one by equity. ("It's a debt-fuelled hotel," insists a Delhi hotelier.)
So, Capt Nair needs to sell around 105 rooms every month to cover the interest payment. That's occupancy of around 41 per cent throughout the year.
To put it in perspective, top Delhi hotels do about 70 per cent in the peak season from October to March and 45 per cent in the rest of the year.
Hoteliers insist that the average room rate of no upscale hotel has ever crossed Rs 18,000; so it could be difficult for Capt Nair to hold on to the lowest tariff of Rs 20,000 for long.
Thus, the presidential suite, which comes with a complementary Rolls Royce, has a separate elevator and is fully bulletproof.
For high-end corporate travellers, the hotel has 39 Royal Club rooms where the decor is different, furniture is done with mother of pearl inlay, five different meal options are offered, access is provided to the club lounge and airport transfers are done in BMWs.
There is an all-woman staff at the lobby where guests can order beverages. Some sector experts say that more than gimmicks what matters is the quality of service.
Source: http://www.rediff.com/business/slide-show
Follow us: www.facebook.com/karvyprivatewealth
All told, Capt Nair (he served in the Maratha Light Infantry till 1950 and entered the world of hotels only in 1987 when he was in his 60s) has spent Rs 1,700 crore (Rs 17 billion) on the 260 rooms and suites. At Rs 6.53 crore (Rs 65.3 million) per room, this is the most expensive hotel ever built in India.
Capt Nair's detractors will give you good reasons why his premium gamble will not work -- his lowest tariff of Rs 20,000 a night is above rivals like The Oberoi (Rs 18,500) and ITC Maurya (Rs 18,000), though it is lower than the Aman (Rs 27,000).
"We are confident about the hotel's success as it is the first new hotel in downtown Delhi in the last 30 years to come up in an upmarket area which is in close proximity to the Rashtrapati Bhavan, embassies and the central business districts," says Capt Nair.
The new hotel, located in the diplomatic enclave of Chankayapuri, has been financed two parts by debt and one by equity. ("It's a debt-fuelled hotel," insists a Delhi hotelier.)
So, Capt Nair needs to sell around 105 rooms every month to cover the interest payment. That's occupancy of around 41 per cent throughout the year.
To put it in perspective, top Delhi hotels do about 70 per cent in the peak season from October to March and 45 per cent in the rest of the year.
Hoteliers insist that the average room rate of no upscale hotel has ever crossed Rs 18,000; so it could be difficult for Capt Nair to hold on to the lowest tariff of Rs 20,000 for long.
Thus, the presidential suite, which comes with a complementary Rolls Royce, has a separate elevator and is fully bulletproof.
For high-end corporate travellers, the hotel has 39 Royal Club rooms where the decor is different, furniture is done with mother of pearl inlay, five different meal options are offered, access is provided to the club lounge and airport transfers are done in BMWs.
There is an all-woman staff at the lobby where guests can order beverages. Some sector experts say that more than gimmicks what matters is the quality of service.
Source: http://www.rediff.com/business/slide-show
Follow us: www.facebook.com/karvyprivatewealth
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