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Paranjape Schemes forays into hospitality sector, looks at expansion in Konkan region

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Paranjape Schemes Construction has forayed into the hospitality sector with its maiden venture, the launch of The Gateway Hotel Hinjawadi Pune. This is the first Gateway branded hotel in the city of Pune. PSC Pacific, a Paranjape Schemes (Construction) venture owns this property which is operated by Taj Hotels Resorts & Palaces. The company has invested INR 115 crore for developing the 150 rooms, including six suites property under a eight year contract, which can be extended. The hotel has been developed on a three acre land out of the 10 acre land owned by Paranjape Schemes Construction. The property offers more than 5500 sq ft of meeting and event facilities.

In an exclusive with Food Hospitality World, speaking about the expansion plans of the company, Shashank Paranjape, managing director, Paranjape Schemes Constructions said, “We can certainly look at the Konkan region which to me is completely an unexplored market. Few branded hotels chains have been developed there. We have acquired few land banks and have significant holdings in few properties in Shrivardhan area, which are sea facing. Plans for expansion in Shrivardhan area are still in the nascent stages. We will wait for six months to get our plans and permits in place. The launch of the Gateway Hotel Hinjawadi Pune is a significant milestone as we foray into the hospitality industry. We are happy to partner with The Taj Group. Going forward, seeing from a business perspective, we are open to working with other brands as well for further expansion.”

When asked about the growth plans for the Taj Group, Farhat Jamal, senior VP – operations (West India) & Africa, Taj Hotels Resorts & Palaces said, “We are looking at expanding our brands into the Tier II and Tier III markets. We have two more Gateway brand properties opening up, one in Ajmer (end of this month) and one in Corbett, which is also expected to open soon.”

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