Steel Depot into Marriage Palace – CITCO Eyeing to Make Profits

Steep fall in revenue has spurred the Chandigarh Industrial and Tourism Development Corporation (CITCO) to convert its three-acre plot in Industrial Area Phase I, into a marriage palace. Presently, the premises are occupied by a steel depot. The decision came following a meeting of the Board of Directors, CITCO on Monday. The UT Finance Department is yet to give its final approval.

Capacity Of 1000 People

Pankaj Khanna, Board of Directors Member favoured this step. Residents move out to Zirakpur or nearby towns for holding extravagant wedding functions. This new marriage palace will have a capacity of 1000 people. The decision will be beneficial for city residents.

Floating Tenders

To increase its profits, CITCO has started to lease out its properties to private players. This includes hotels and restaurants, namely Hotel Shivalikview in Sector 17 and Magic Wok, a multi-cuisine restaurant of Hotel Mountview, Sector 10. Magic Wok was the first outsourcing tender floated by CITCO earlier. The price was Rs 4.20 lakh per month.

Sales of food and beverages dipped at the city’s major restaurants and coffee shops in 2018. As per reports, following losses were accounted for:

Hotel Mountview – Rs 2 crore

Hotel Shivalikview – Rs 66 lakh

Hotel Parkview – Rs 27 lakh

In the last fiscal year, Hotel Mountview recorded net profit worth Rs 3.03 crore. Hotel Parkview too gained Rs 2.31 crore.

CITCO owned two restaurants- Drop-In, Sector 34, and Baithak, Kalagram is already leased out. Outsourcing of the Stop-n-Stare eatery, Leisure Valley, Sector 10 is in process.

Future Plans

As per reports in the Times of India, CITCO has not taken any final decision on its new marketing strategy. Still, it plans to improve on the following grounds:

  • Guest Experience

It plans to invite guest ratings on social media. This will assist to know their experience and satisfaction level. Discount offers to the sales team is another move.

  • Follow-Up

It will try a new credit policy and follow-up with clients after bills delivery and payment. This will make sure customers have not had a bitter experience.

  • Conferences

In an attempt to incur revenue from banquets, CITCO will promote its hotels for residential conferences.

  • Employee Of The Month

It proposes to select an employee of the month on a performance basis. Winners will be given prizes, appreciation letters, and a free stay at hotels, along with free one-night free stay or a one-time spa.

News Source: Times of India

Image Source: Google Images