Country Club Hospitality and Holidays Ltd. (CCHHL) CMD Rajeev Reddy with Sri Lankan Cricketer Aravinda de Silva discussing about the growth potential of tourism sector.
Having cleared almost a massive debt of ₹600 crore over the last two years, Country Club Hospitality and Holidays Ltd (CCHHL) is exploring new growth avenues and strategic partnership globally to stay afloat.
“This remarkable achievement marks a significant turning point for the company as it paves the way for a debt free status and a more sustainable business model,” said its Chairman and Managing Director Rajeev Reddy.
In line with its future growth strategy, the hospitality major is adopting a franchise model, which will enable it to expand its footprint, enhance brand visibility and drive business growth while minimising capital expenditure. Currently, CCHHL has 40 franchise based out of India and plans are on to add another 60 from India and abroad.
“We have already started our expansion programme to delight our customers with the introduction of leisure and adventure tourism in Sri Lanka. We will be eyeing those countries which offers Visa on Arrival for the Indian tourists. First in the list is Sri Lanka. It would be followed by other Asian countries such as Malaysia, Singapore, Maldives, Bali and Port Blair and other European countries,” he said.
Recently, Mr. Reddy launched the Country Club’s first project in Kitulgala that included diving and white river rafting.
“Tourism plays an important role in revenue generation. Our strength is that we have two million members and Country Club can act as a catalyst. Since, we are going through franchise route, the capital investment will be minimum. It will be win-win for both the parties,” he said.
Besides, Country Condos Ltd., the real estate division has started selling plots in Andhra Pradesh, Telangana, Madurai, BITS-Pilani, Ratnagiri and Rajasthan. Currently, it has about 5,000 unsold plots in these areas worth ₹200 crore.
During the current fiscal, CCL clocked a revenue of ₹26 crore fuelled by strong sales and is projected to touch ₹100 crore in two years, he said.
Published – November 20, 2024 11:53 pm IST
