Spence Hotels eyes India
With its four hotel properties in Maldives showing
huge profits, Aitken
Spence Hotels wants to venture into India and is discussing
a joint venture with an Indian firm to manage two resorts in Chennai.
It is also actively pursuing a city hotel in India
and plans to unveil its new logo for the Aitken Spence Group after
140 years if its existence.
The company’s Maldives resorts recorded
more than 75 percent profit. Aitken Spence and Company’s Managing
Director, Rajan Britto told The Sunday Times FT on the sidelines
of a press conference announcing the company’s new hotel brand,
Heritance that there will be a slight change in the Group’s
logo to bring more unity to the group.
“There will be a slight rebranding, re-emphasising
and a slight change in the logo to bring unity in the group, whether
it is in printing, plantations, garments or anything else and we
will be coming out with the new logo in about a month's time,”
Another company source said they are discussing
with an Indian company a joint venture partnership to manage two
resort hotels – one in Kerala and the other in the Andaman
Islands. “We always work as a joint venture initially and
when we are familiar with the terrain, we will venture on our own,”
Mr Britto said the company is also pursuing a city hotel in India.
Mr Britto said that a Colombo city hotel is a short to medium term
plan of the company and the Colombo Hilton is not a proposition
at all because of the rumoured high price it is supposed to ask.
“Also we are not in the habit of buying other people’s
Our model has always been to build a hotel and
not buy a hotel ever since we ventured out into tourism in the 1970s,”
He said 2005 was a year of consolidation for the
Group and like a ‘launching pad’ for 2006. “Our
most profitable sectors are shipping, cargo logistics and infrastructure
for 2005,” he said, adding that the annual report will be
released on June 6.