Bengaluru-based corporate stay solutions company, HummingBird Suites Private Limited (HSPL) plans to expand its portfolio in the Indian market with the development of 100 properties in the country by 2010. Besides developing its own properties, it will also adopt the management model and enter into joint ventures for its expansions. With the expansions in the pipeline, it aims to develop its brand in the Indian market.
Speaking exclusively to Hospitality Biz, Vivek Madappa, stated that the company aims to attain a valuation of Rs 100 crore in the next three years. With the 100 properties, the company will add in a room inventory of about 3,000 rooms into its portfolio. The present residential suites of the company are based on the lease model. For its future expansions, it intends to construct its own properties. It presently, has properties in Bengaluru, Hyderabad, Pune, Mumbai, Chennai and the National Capital Region. It intends to expand its presence in tier I cities with more apartments. Besides, the other locations under consideration are Kolkata, Noida and Jaipur. |