Sources said that Taj Hotels and Resorts Ltd had entered into a long-term licence agreement with Hotel Surya International, Coimbatore, whose existing structure would be pulled down to build the new business hotel.
Raymond Bickson, managing director of Tata group outfit, Indian Hotels Company Ltd., said that while this was in line with the company's strategy of setting up hotels in second tier cities, Coimbatore offered excellent potential given the rapid development of its IT, textile and automobile sectors.
According to Indian Hotels Senior Vice-President, Finance, Anil Goel, the project cost has been pegged within Rs. 100 crore and will be funded through internal generation.
The Taj Business Hotel will have 200 rooms according to the release. Located about 12 km from the airport and three km from Coimbatore, the new hotel will have three food and beverage outlets, 15,000 sq. ft. of banqueting and meeting facilities and a fitness centre.
Raymond Bickson, managing director, Indian Hotels Company Limited, said, "Coimbatore has been identified as one of the fast developing metros of India and is on the threshold of becoming the second largest IT centre after Chennai in Tamil Nadu. Given the rapid IT development and the growth in the textile and automobile industry, which will drive the business demand in the years to come, we feel that Coimbatore offers immense potential for the development of a business hotel. Furthermore, this expansion in second tier cities like Coimbatore is in line with our domestic expansion strategy."
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