Homcourt expanding serviced apartment chain

The Chennai –based Regaliaa Realty is set expand Homcourt, its chain of serviced apartments across South India.

Online PR News – 10-September-2010 – – Regaliaa Realty’s Chairman and Managing Director, Mr D.Sudhakara Reddy, told a pres conference that Homcourt is set to enter new markets of Bangalore, Coimbatore and Pune over the next six months.

The chain of serviced apartments was launched a couple of years back and is now present in Chennai, where the II-apartments unit is set to grow to 16 by September. The company recently opened a facility in Hyderabad with 27 serviced apartments.

Mr.Reddy said Homcourt plans to add 100 serviced apartments in various locations over the next two years.

Typically the company opts for joint venture with land owners willing to invest in the building to meet Homcourt’s standards. The company will furnish the interiors and manage the property. The serviced apartment chain targets business travelers. The company is open to locations in Central Business Districts.

Regaliaa Realty is a listed company that is into property development and construction of commercial and residential buildings diversified into the hospitality sector through Homcourt in 2008. The chain operates in the premium segment.