‘V’ for weekend getaways
The chain targets resort properties at great locations, which are underperforming or undermanaged.
service chain of resorts in off-beat destinations, V Resorts is looking at opening 10 new resorts by December 2013 in various parts of Northern India, including Uttarakhand, Himachal Pradesh and DelhiNCR. The group currently operates five properties in Uttarakhand at Corbett, Ramgarh, Sattal, Pauri and Almora.
Betting on the weekend getaway segment, Vaibhav Dayal, Managing Director, V Resorts opines, “V Resorts is a limited service holiday resort chain where just the right services are provided with no major frills, so that customer pays for only what he wants and doesn’t have to cough up hard-earned cash for the few frills that few would value. Our pricing is designed in a way that customers can easily afford at least four holidays every year.” As part of its current expansion plan, V Resorts will focus on properties located primarily in hilly terrains and forested areas with special emphasis on driving dis- tances from major cities in North India.
According to Dayal, the strategy is to take up resort properties at great locations, which are underperforming or undermanaged, and make them better with superior services and marketing. Currently, the chain gets maximum bookings through its own website. “We only get 20 per cent of our bookings from the B2B channels of the tour operators. However, during the summer vacations, we promote school excursions. For this segment, around 99 per cent of our business is generated through our alliance with this network. Going forward, we are looking at strengthening our partnership with the travel trade community,” he adds.
Talking about the funding model, Dayal reveals, “V Resorts has been funded by a clutch of investors including a VC fund (Bedrock Ventures). More value-added investors are getting associated with us.” France-
based luxury resort chain Club Med will target travellers from key source markets of Delhi, Mumbai and Bengaluru in India. Vijay Sharma, Country Manager, Club Med India said, “We want to promote the Club Med brand in these three metros, as well as increase awareness about Club Med. Over the next couple of years, we hope to expand into other metros in the country.”
Managing Director V Resorts
Country Manager Club Med India