Park Hyatt Hyderabad hotel, a luxury hotel, in Banjara hills is one of the premium hotels in Hyderabad. This luxury property is flagship of Gayatri group, an infrastructure company owned by congress former MP T. Subba Rami Reddy. Hotel occupancy levels in Hyderabad region are expected to remain subdued owing to oversupply of rooms in last few years and prolonged demand slowdown. While rack rates are above 12,000, Rooms at Park Hyatt Hyderabad are always available at 50% of the cost to boost occupancy.
As per Telugu360 sources, Subba Rami reddy had more than 700 crores loan on this property. As business is not doing well, he is in talks with banks to restructure the loan to 300 crores. Banks will now have to take a hair cut of more than 50%. This is similar to modulus operandi of liquor baron Vijay Mallya. His firm also ventured into a number of businesses without looking into the financial viability, just because these are glamour businesses. Banks, which eventually means people, have to take a hair cut. Hope banks are more stringent in funding these businesses.
