Happening city....Vizag

Sir · Posted: Mon Aug 28, 2006 3:39 pm Post subject: Happening city....Vizag

As "Happening city...Vizag" has many posts, i have made another discussion topic with minor name change - "Happening city....Vizag" so that we can start using it.
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Sir

Star Cruises to explore new destinations on eastern coast
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Beginning the second season for the cruise liner Super Star Libra in the Indian market, Star Cruises India Pvt Ltd is planning to grow at 50 per cent in the domestic market.

Registering its first year of profits in the country, the cruise liner had 70,000 passengers last season. "We expect to double the number of passengers this year and are expecting to grow at 50 per cent in the domestic market," says Mr Sarosh Khatib, General Manager - India, Star Cruises.

Targeting tier-II cities with its offering, the cruise major is setting up roadshows to sell the concept of cruising in smaller towns and cities.

Nascent stage

"Cruising as a concept is at its nascent stage in India. However it is getting evolved and now we have decided to approach the tier-II cities," says Mr Khatib. Star Cruises expects to explore new ports in the eastern parts of the country.

After exploring destinations such as Lakshadweep and Goa , the company now intends to tap destinations in the eastern coast as well. "In the future, we are planning to explore more destinations on the eastern coast from places such as Chennai and Vizag."

Having started domestic operations last year, Star Cruises is also promoting its `Fly Cruises' for international destinations. With its network of `preferred' sales agents, Star Cruises has been operating through the B2B network. Having acquired a Norwegian cruise line recently, it has been attempting to promote cruising in India and has been introducing its tours through travel agents.

Fly Cruise

`Fly Cruise' are trips in which cruises are being added from the destinations abroad.

"In spite of the Indian cruising market being at a nascent stage, we expect the Fly Cruise market to grow between 15-20 per cent," says Mr Khatib. With 40,000 travellers availing themselves of its cruises last year, this year the Fly Cruise market from India is estimated at nearly 60,000 travellers. Star Cruises has been operating its subsidiary company in India for the past eight years.

Tariff

With 22 branded ships under its fold, Star Cruises has not been subsidising its prices for the Indian market. "Our tariffs are on par with the international market," says Mr Khatib. With an average pricing of $100 per night, Star Cruises expects its second season of Super Star Libra to grow the cruise market in the country.
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Sir · Posted: Thu Aug 31, 2006 10:55 am Post subject: Adlabs in VIZAG

The Manmohan Shetty-owned Adlabs Films, which saw a big ticket capital infusion from the Anil Ambani camp, has drawn up an elaborate blueprint for making its presence felt in south India. A major market for films after Bollywood, the company’s plans for south include film production, processing, exhibition and even distribution in the long run.

If it entered south through film processing, by taking over the operations of the Chennai-based Vijaya Labs sometime back, Adlabs has quickly moved into film production. It has already signed up two co-production deals for Tamil films, including an animation film. On the exhibition front, the company already manages three screens at Cineplex Adlabs in Mangalore. It is in talks with property developers in almost all major cities in the south for a larger presence across the region. While company officials are not willing to disclose a number, estimates indicate that close to 20 Adlabs’ screens will be up and running within the next one year. The processing facility, which has been equipped with the state-of-the-art equipment, in Chennai has established itself and is already working with some of the bigger banners including Oscar Films and Surya Movies. The facility processes Tamil and Malayalam films.

As for film production, the company has signed a co-production deal for a full-length animation film, with Soundarya Rajnikanth, the y o u n g e r daughter of Tamil cinema’s superstar. “This will be the first fulllength animation feature film of international quality. It is progressing well,” sources said. It has signed up its second co-production deal with Suresh Balaji’s Sujata Films for a full length Tamil film featuring leading star, Ajit in the lead. “It’s a big budget movie, slated for an April 14, 2007 release. We have joined hands as a co-investor and other details are being worked out,” the sources said. According to them, several companies have approached Adlabs for similar deals. “But, we are very careful and choosy in our entry into South. We believe Tamil and Telugu are the two big film markets in the region and we will expand our presence on the production front,” Adlabs Films CMD Manohar Shetty said.

It is also working closely with many young directors. “The projects need not be big, but will be very niche, high quality and prestigious projects,” he said. Adlabs is also keen to have an aggressive presence on the multiplex front too. “We are looking at south actively. And will cover almost all major cities over the next couple of years,” Shetty said. In Tamil Nadu, Adlabs is keen to make its presence felt in Chennai, Tiruchi, Coimbatore and Salem. In Andhra Pradesh, it is Hyderabad, Vijayawada and Vizag. In case of Karnataka, it will be Mysore and Bangalore, besides Mangalore, where it already has a three-screen presence. In Kerala, it will be Kochi and Thiruvananthapuram. “We are talking to property developers in all these cities and the discussions are all at various levels across cities. However, we will not be able to reveal the number of screens we are aiming at, nor the investments earmarked,” Shetty said.
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JP Morgan Asset Management has raised $360 million through its India Property Fund with capital commitments from institutional and high net worth investors from the US, Asia, Europe and the Middle East.

India Property Fund, the first player to focus on the growing Indian real estate marketplace since foreign investment restrictions eased, extends JPMorgan Asset Management to real estate platform and complements its existing suite of core, core-plus and value-added property funds.

This fund, with an internal rate of return of 20 per cent, focuses on development of new properties in office, residential, industrial/warehouse, retail and hospitality sectors.

Through joint ventures with local developers, JPMorgan Asset Management will target India’s key economic centers. In Surat, Vizag and Nagpur, the fund has entered into pact with selective investments.

“Investors are now seeking higher returns from emerging markets like India where there is enormous potential for growth and superior returns.,” said Joe Azelby, global head, JPMorgan Asset Management - Real Estate.
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