Chennai, Aug 21 (IANS) American hospitality major Marriott International sees good market potential for beach resorts on the East Coast Road (ECR) here from the leisure, corporate and wedding segments despite the existence of 750 rooms on the stretch, said a senior official on Tuesday.
Launching the new 125-room Sheraton Grand Chennai Resort & Spa near here, Shibil Malik, General Manager, said there is room for more rooms under the beach resort category on the ECR stretch up to Puducherry.
According to him the resorts on the ECR at an average have an occupancy of about 63 per cent.
For Marriott International, Sheraton Grand Chennai Resort & Spa is the first beach resort property under its Sheraton Grand brand.
“Our pricing is 15-20 per cent higher than that of competing properties like Fishermen’s Cove (Taj Group), Intercontinental Chennai Mahabalipuram Resort and Radisson Blu Temple Bay Resort,” Malik added.
According to Amarnath Reddy, Managing Director and the property owner, a sum of Rs 200 crore has gone into the hotel.
Reddy said he is also looking at putting up another resort property on the ECR or a boutique hotel in the city.
For Mariott International, this will be second resort property near here. The first one is the Four Points by Sheraton formerly known as Confluence Banquets and Resorts.