BCM Group Acquires Five-Star Property The Golden Palms Resorts and Spa
Wednesday, 31 July 2024, 10:18 IST
BCM Group has acquired Bengaluru’s five-star hotel, The Golden Palms Resorts and Spa, marking a significant expansion in their luxury hospitality portfolio. Rajesh Mehta, the managing director of BCM Group, confirmed the acquisition but did not disclose the financial details of the deal. The resort, which spans 15 acres, was purchased from World Resorts Limited.
Mehta revealed that BCM Group now holds full ownership of The Golden Palms and plans to transform it into a premier wedding and MICE (Meetings, Incentives, Conferences, and Exhibitions) destination in India. This move aligns with the group's strategy to expand its presence in the luxury hospitality sector.
BCM Group, a diversified conglomerate with interests in real estate, hospitality, education, healthcare, and manufacturing, already boasts an impressive portfolio in the hospitality industry. Their holdings include five-star properties like Sheraton Grand Palace in Indore and Le Meridien in Surat, with an upcoming Taj hotel in Indore featuring over 450 rooms.
The Golden Palms Resorts and Spa currently offers 150 rooms and suites, a spa, specialty restaurants with an exclusive vegetarian kitchen, a swimming pool, a business center, conference halls, and other recreational facilities. Mehta disclosed plans to add more than 50 rooms to the resort and partner with a top international hotel operator for its degradation.
“There aren’t many getaways in and around Bengaluru, and large MICE properties are still lacking in the city. We thought this would be a great acquisition and this saves almost five years of our time”, Mehta stated. “Acquiring land and permits takes time. It’s perfect for social events and is strategically located close to Bangalore International Exhibition Centre and the stadium. It’s a bit run down, so we will upgrade the property. We aim to make it one of the finest destinations in southern India”.
Additionally, BCM Group is set to expand its Sheraton Grand Palace property in Indore by adding 110 rooms. The group is also upgrading Le Meridien in Surat, aiming to have 190 keys in place by the end of the year. The Taj hotel in Indore is projected to be operational by 2028.
Mehta revealed that BCM Group now holds full ownership of The Golden Palms and plans to transform it into a premier wedding and MICE (Meetings, Incentives, Conferences, and Exhibitions) destination in India. This move aligns with the group's strategy to expand its presence in the luxury hospitality sector.
BCM Group, a diversified conglomerate with interests in real estate, hospitality, education, healthcare, and manufacturing, already boasts an impressive portfolio in the hospitality industry. Their holdings include five-star properties like Sheraton Grand Palace in Indore and Le Meridien in Surat, with an upcoming Taj hotel in Indore featuring over 450 rooms.
The Golden Palms Resorts and Spa currently offers 150 rooms and suites, a spa, specialty restaurants with an exclusive vegetarian kitchen, a swimming pool, a business center, conference halls, and other recreational facilities. Mehta disclosed plans to add more than 50 rooms to the resort and partner with a top international hotel operator for its degradation.
“There aren’t many getaways in and around Bengaluru, and large MICE properties are still lacking in the city. We thought this would be a great acquisition and this saves almost five years of our time”, Mehta stated. “Acquiring land and permits takes time. It’s perfect for social events and is strategically located close to Bangalore International Exhibition Centre and the stadium. It’s a bit run down, so we will upgrade the property. We aim to make it one of the finest destinations in southern India”.
Additionally, BCM Group is set to expand its Sheraton Grand Palace property in Indore by adding 110 rooms. The group is also upgrading Le Meridien in Surat, aiming to have 190 keys in place by the end of the year. The Taj hotel in Indore is projected to be operational by 2028.
