Homcourt to Expand in Three More Cities

Online, October 13, 2010 (Newswire.com) - The growth in IT and IT enabled services sector has largely influenced the growth of the serviced apartments sector, according to Sudhakara Reddy, Managing Director and Chairman, Regaliaa Realty, a listed company which had set up serviced apartments under the brand name 'Homcourt'.

Addressing presspersons here on Wednesday, Mr.Reddy said with a growing number of expatriate professionals in India and a steady rise in leisure travelers, many local and foreign players, including Ascott and Oakwood, were setting up serviced apartments.

Mr.Reddy said Regaliaa Realty was already operating a serviced apartment with 11 rooms in Chennai. It would be adding five more rooms in this facility by September, Mr.Reddy said. Besides, the company had opened a serviced apartment in Hyderabad with 27 rooms. The plan was to become a multi-city brand by expanding presence in Bangalore, Coimbatore and Pune, Mr.Reddy said.