Hotline: 1800 102 2007
X
Search Business Opportunities
startup 2015-12-02

Pricing is done keeping in mind the target customer

In an exclusive chat with Restaurant India, Pravin Malkani, Owner at Hotel T24 Residency speaks about varieties of cuisines he is offering.

Pricing is done keeping in mind the target customer

The contemporary and international Bistro and Bar at T24 Residency occupies the entire eight floor of the building and serves delicacies appropriate from Breakfast to Bar.

How and when did you decide to open a restaurant of yours? How was the investment managed?

The restaurant was planned with the idea of the Boutique Hotel.  T24 Residency is a four star Business Boutique Hotel, crafted to cater to the growing demands of business travellers and in-city suburban crowd. The investment has been managed by the family only.

What all varieties do you offer in your menu?

Our menu is a mix of European, Thai and Indian specialties. Starting from coast to terrain we believe in doing classics with a twist to keep the ethnic flavours and cuisine to its best. We believe in experimenting with the style and presentation but keep the flavours intact and classic.

Notable Wine List, International Beers, Spirits and Liqueurs, Craft Cocktails are served across two bar counters within the Bistro and in the Al fresco area. Expert bar tenders churn out classic and signature cocktails with state of the art apparatus and accessories. The food menu is created in mind with the belief that ‘old is gold’. Our expression of classic food includes serving kebabs with phyllo pastry on a stone platter to Idlis in dim sum basket, fries in egg coddler to soup in a coffee cup making the experience more appealing even with its mythology and ethnicity intact.

What are the design elements you keep in mind while designing the restaurants?

The design elements put together are an electric, earthy, casual yet classy, bespoke, retro yet modern arrangement, nostalgic and fun, quirky yet comfortable.

How do you decide on pricing keeping your target customers in the mind?

We decide pricing by keeping target audience who are working executives and corporate in the vicinity, persons who like bespoke food and cocktails and enjoy a fine dining experience.

How big this segment is? How many players are working out there?

The mid segment market is big and growing faster than any other segment in the hospitality space, even larger brands like Marriott, Sheraton and Hyatt are now focusing more on this mid segment which is now the most exiting segment. A busy traveller really does not use many of the facilities of a larger five star hotel which they end up paying for anyways and struggles to find comforts and standards they are used to at a modest two and three star properties. This is the crossover product that attempts to bridge the gap between the larger five star hotel and the two or three star segments, by offering just right services and amenities at right prices. There are several players from the international operator segment and scores of individual players who are setting up properties in this segment, with a self- operating model or with very interesting and evolving Indian operators.

What is your expansion plan?

Presently, our plan is to consolidate and grind our teeth translating our philosophy of the “customer being a guest and not a statistic” into practice. In the near future we plan to offer our operating system to other midsized properties that are probably family run and are looking for a bespoke operator. We also plan to increase our ownership portfolio of hotels going forward.

Comment
Related opportunities
  • Men's footwear
    About: Established in 2010, Vision Footcare India Private Limited is promoted..
    Locations looking for expansion Delhi
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Become ASCENT ABACUS & BRAIN GYM franchisee today to be..
    Locations looking for expansion Haryana
    Establishment year 2003
    Franchising Launch Date 2005
    Investment size Rs. 50 K - 2lac
    Space required 300 sq. ft.
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Gurgaon Haryana
  • Departmental/Unisex
    About : The brand name, “Sweet Dreams” enchants the heart and..
    Locations looking for expansion Maharashtra
    Establishment year 1989
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Snacks / Namkeen shops
    About : • Established in the year 1992, National Chikki is..
    Locations looking for expansion Maharashtra
    Establishment year 1992
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts