Varun Group Plans 5-Star Hotel Project In Vijayawada
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The Varun Group, which is into automobile, hospitality and construction business, is setting up a 5-star hotel with 200 rooms in Vijayawada. The group already operates a 5-star hotel with 226 rooms in Visakhapatnam in collaboration with Novatel.
Group chairman V Prabhu Kishore said the Vijayawada project would require an investment of around Rs 200 crore. “We have got all approvals for the project and the construction work would start by September. The project would be ready by 2018,” he added.
It is also setting up resort-cum-service apartments with 30 luxury rooms at Bhimili beach. The plan outlay of the project is Rs 15 crore, and is expected to commence operations in two to three months, he said.
The group achieved a turnover of Rs 2,000 crore during 2013-14 as against Rs 1,800 crore in the preceding year. It expects a growth of 15 per cent in turnover during the current year. Majority of its turnover comes from the automobile business. Varun Motors Private Limited is one of the Maruti dealers in AP and sells 40 per cent of state’s Maruti cars.