The Taj Group Announces Its 100th Property This Year
The Taj Group announces that it will open its 100th property next year in India. The Taj Group is a domestic hospitality brand which aims at the strategy of balance in international and domestic businesses. It is the fastest growing business in luxury sector with profit. Indian luxury segments are Ginger groups, Vivanta and The Gateway. The room capacity has been expanded from 62,000 to1, 30,000 since the last nine years. China and America have been doubling their capacities every three years once where as India’s doubling capacity of expansion is happening at the rate of once in every nine years. The average occupancy across the segments is sixty five to seventy percent.
The hotels in San Francisco and New York are doing well now. The domestic market is bright with increase in 740 million travellers. Even the group could see the increase of foreign traveller touching six millions. Recently Taj Hotels Resorts and Palaces have opened five stars Vivanta hotel at Begumpet in Hyderabad with 181 room and suits is the fifth property. The brand Vivanta contributes 1/3 of revenue to the Taj group.
Three major segments in hospitality sector of Taj brand are operated by the company are leisure, luxury and business. The Taj Group uses in all operations the name “Taj”. As the Taj Group expands its locations far from India, the brand plays an increasing role regarding revenues. The Taj Group plans in the next years to increase twelve more hotels in the business segment. The company plans a sub-brand strategy where hotels will run under separate brand name but will have the approval of Taj brand. This strategy ensures Taj preserve the brand equity.