Country Club to invest Rs 500cr in Ayurvedic spas
Kochi, June 26: Entertainment and leisure company Country Club India Ltd (CCIL) today said it will invest Rs 500 crore in its new chain of Ayurvedic spas this year.
''Country Club had tied up with Kerala-based Ayurveda treatment provider 'Kairali' for its new venture,'' CCIL Chairman and Managing Director Y Rajeev Reddy said.
The company will open an exclusive chain of Ayurvedic spas, starting with Hyderabad, Bangalore, Chennai and Mumbai. ''These spas will be treatment and rejuvenation centres where neither alcohol nor non-vegetarian food would be served.'' ''There is a big demand for Ayurveda treatment overseas. These centres would provide authentic Ayurveda treatment and a detoxifying lifestyle to the visitors,'' he added.
Talking about the company's entry in Kerala, he told reporters that the company has acquired two properties -- one each at Kovalam and Vypeen Island near Kochi.
It had also tied up with ten franchisees for properties at popular tourist destinations, including Munnar, Wayanad, Cherai and Alappuzha.
Company COO Varun Reddy said there was an increasing demand among the members for holidays in Kerala. ''No holiday or leisure firm can be complete today without properties in Kerala,'' he added.
CCIL had achieved a turnover of Rs 167 crore last year and a profit of Rs 34 crore. The company operates family clubs in various parts of the country from early 1990s with its first club in Hyderabad and presently offers 155 destinations, including franchisee properties and 170 affiliates.
Its global affiliation to RCI, a pioneer of exchange holidays and non-hotel leisure accommodation, made available 3,900 properties all over the world to the CCIL members. It also had its own property near Colombo in Sri Lanka and was looking for one in Malaysia, Mr Reddy said.
The club's one-time membership fee ranges from Rs 50,000 to Rs 10 lakh besides an annual membership fee of Rs 2,000.
The CCIL was hoping to enroll about 10,000 members in Kerala during this fiscal. The company presently has 1,50,000 members all over India, besides 375 corporate members including Microsoft, Satyam Computers, Global Trust Bank, Brooke Bond and Dr Reddy's Labs.
Besides availing leisure facilities, including swimming pools, gymnasia and night clubs at the local Country Club,the members were also entitled to free holidays for a week in a year at any CCIL property in India.
Country Vacation CEO Shaji Mathew said the property at Vypeen Island would be affiliated to RCI, paving the way for a lot of foreigners to holiday here. The one at Kovalam was being upgraded to a five star deluxe luxury accommodation, he added.