Tata Realty and Infrastructure Limited (TRIL), a wholly-owned subsidiary of Tata Sons, is foraying into retail and hospitality segments with a new subsidiary, TRIL Hospitality Services. The company, which has about Rs 6,000-crore projects at hand, would also commence work on two more projects, adding business of Rs 3,000 crore,
said a senior executive of TRIL Infopark. Speaking on the sidelines of the Estate South 2012 conference, organised by the Confederation of Indian Industry, C Velan, Executive Director and Chief Executive, TRIL Infopark, said, "It is a recent development; we have not yet started execution. While we were exploring options for future plans, we identified opportunities in three segments - retail, senior living space and the hospitality segment." The hospitality segment would include two parts: developing living space for senior citizens, for which management would be outsourced to a third party, and the development of gateway and four-star hotels, which would also be operated by another company. The management of living space for senior citizens and hotels is likely to be offered to a Tata Group hospitality firm, though some international players are also being considered, according to a report by Business Standard. "We are collaborating with an international company to operate and manage the senior living segment. We are looking at a model which is new to India, but prevalent in countries like the US," Velan said.
Click here to see the original article>said a senior executive of TRIL Infopark. Speaking on the sidelines of the Estate South 2012 conference, organised by the Confederation of Indian Industry, C Velan, Executive Director and Chief Executive, TRIL Infopark, said, "It is a recent development; we have not yet started execution. While we were exploring options for future plans, we identified opportunities in three segments - retail, senior living space and the hospitality segment." The hospitality segment would include two parts: developing living space for senior citizens, for which management would be outsourced to a third party, and the development of gateway and four-star hotels, which would also be operated by another company. The management of living space for senior citizens and hotels is likely to be offered to a Tata Group hospitality firm, though some international players are also being considered, according to a report by Business Standard. "We are collaborating with an international company to operate and manage the senior living segment. We are looking at a model which is new to India, but prevalent in countries like the US," Velan said.