KDJ HolidayScapes to invest Rs. 150 crore.

Vacation ownership and timeshare provider KDJ HolidayScapes and Resorts is planning to invest Rs. 150 crore in the next five years to develop new properties. The company is looking at adding owned porperties as well as expand through tie-ups.

The company, listed on Bombay Stock Exchange, is eyeing expansion into locations such as Coorg, Sikkim, Goa and Tamil Nadu, Kerala among others. At present it owns two properties, HillScape at Khandala in Maharashtra and DesertScape at Jodhpur in Rajasthan, and has affiliation with Resort Condominium International (RCI) for other properties.

With the expansion plan, the company is mainly targeting middle to upper middle class audience. 'There is a gap that provides a huge opportunity for the middle to upper middle class segment. There is a huge potential for this segment as the available offerings in this segment mainly caters to high end audience. Also, We are scouting for new exotic locations in smaller towns like Coorg, Sikkim, Goa and Tamil Nadu, Kerala among others. For this,we are planning to invest Rs. 150 crore for the expansion in the next five years, said Madhukar Katragadda, director, KDJ HolidayScapes and Resorts.

The company has acquired property in Goa and plans to develop a resort with 63 rooms with an investment of about Rs. 20 crore.

According to reports domestic tourism in India has been growing steadily.

Officials from Ministry of Tourism, one-third of the Indian population is tourist. Domestic tourists showed a growth of 19.9 per cent in 2012 over 2011.

BS