Chennai: Brigade Hotel Ventures is set to expand its presence in Chennai with three more hotels planned across the city, as Chennai, along with Bengaluru and Hyderabad, is expected to witness demand growth that will significantly outpace new room additions, creating favourable demand-supply dynamics through FY30.The Bengaluru-headquartered company’s pipeline in Chennai includes a 45-key Courtyard by Marriott WTC Chennai at the World Trade Center on Old Mahabalipuram Road (OMR), which is scheduled to open this fiscal. The hotel will cater primarily to business travellers in Chennai’s IT corridor.The company also plans to launch a 211-key Grand Hyatt Chennai ECR on East Coast Road in FY29, strengthening its presence in the city’s luxury hospitality segment.In addition, a 250-key JW Marriott Chennai OMR is under planning on Old Mahabalipuram Road, although the project timeline has not been finalised. The company said land documentation for the project is under finalisation. The property is expected to further deepen the company’s footprint in Chennai’s fast-growing OMR business corridor once development approvals are secured and land documentation is completed.The company has been operating the 202-key Holiday Inn Chennai OMR IT Expressway, an upper-midscale hotel, since 2017.The three Chennai properties are part of a broader pipeline of nine upcoming developments across south India.The company’s development pipeline is being supported by a planned capital expenditure of about Rs 3,600 crore, funded through a balanced mix of internal accruals and debt.“In the near term, we will strengthen our presence with the launch of Courtyard by Marriott Chennai WTC, while also pursuing value-accretive initiatives such as brand repositioning at select assets. Over the medium term, the addition of higher-value and luxury assets is expected to enhance portfolio economics,” Nirupa Shankar, managing director, Brigade Hotel Ventures, said in the company’s latest annual report.The Rs 543-crore company already operates nine hotels across Karnataka, Kerala, Tamil Nadu and Gujarat (GIFT City). Its total portfolio is expected to expand to about 3,300 keys with the addition of 1,700 keys through the nine projects in its development pipeline.
