Saturday, August 11, 2012
By Manoj Kumawat
Toyota gets into the hospitality industry in India
Toyota Enterprises, the non-automotive arm of Toyota has forayed into India and will be opening a chain of hotels. No doubt this is the first company to have forayed into another business in addition to selling cars. It is believed that just as Toyota cars such as Toyota Innova and recently Toyota Etios sedan and Etios Liva have become famous for their reliability affordability and dependability, Toyota’s hotel business will also be a hit in the country. As per the sources information the Japanese Toyota has inked an agreement with Bangalore based hotel group.
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Sources believe that this new business in India will benefit Toyota in two ways. First it will be a new business and if the experimental foray succeeds, Toyota might come up with other hotels. Secondly, Toyota run hotels will be able to cater as guest house for Toyota’s senior executives who regularly visit for some or the other matters related to Toyota cars in India. The joint venture for such new operations is called Toyota Enterprises India Pvt Ltd and its first project will be to operate The Chancery Hotel that is run by Hyagreev Hotel. As per the Indo-Japanese JV officials, Toyota’s hotel business will be able to cater to the accommodation requirements of the Japanese people coming to India, specially Bangalore that has a potential of 1800 rooms annually.
As per the initial project, TEL India will be operating The Chancery Hotel at Bangalore from January next year and in the future it might come up with another hotel on the Chennai road. It is believed that Toyota’s foray in the hotel industry has also links to the rising demand for Toyota cars in the industry. Cars such as Innova, Etios and Etios Liva have witnessed a rise in demand in the hospitality industry following the big space inside and most importantly their dependability.