As part of its domestic expansion strategy, Taj Hotels Resorts and Palaces has announced its plans to develop a new…
As part of its domestic expansion strategy, Taj Hotels Resorts and Palaces has announced its plans to develop a new Taj Business Hotel in Coimbatore, the second biggest city of Tamil Nadu.
Taj Hotels has entered into a long-term license agreement with the owners of Hotel Surya International, Coimbatore.
This hotel will be unveiled by October 2007. Mr. Raymond Bickson, Managing Director, The Indian Hotels Company Limited, said, Coimbatore has been identified as one of the fast developing metros of India and is on the threshold of becoming the second largest IT centre after Chennai in Tamil Nadu. Given the rapid IT development and the growth in the textile and automobile industry, which will drive the business demand in the years to come, we feel that Coimbatore offers immense potential for the development of a business hotel. Furthermore, this expansion in second tier cities like Coimbatore is in line with our domestic expansion strategy.
Coimbatore, also known as the Manchester of South India, is home to a large number of textile mills, textile machinery manufacturers, hosiery units and engineering industries. There are about 50,000 small, medium and large-scale industries. It has five universities, 25 engineering institutions and more than 100 art & science colleges.
The textile industry in Coimbatore and Tirupur is likely to witness a surge with the phasing out of the quotas. Tirupur, which is situated 55 kms to the east of Coimbatore has emerged as the leading knitwear production centre in the country contributing 85-90 % of India`s cotton knitwear export, worth an estimated Rs.5,000 crores. With the rapidly growing export demand, a number of large players have established vertically integrated manufacturing facilities ranging from contract farming for cotton cultivation to setting up of ginning factories, spinning mills and windmills for power generation at a lower cost.
