With an aim to cater to Japanese businesses based in Bangalore, Toyota Enterprises, the non-automotive arm of Toyota Group, has entered into a joint venture with the Bangalore-based Hyagreev Hotels. Hyagreev runs The Chancery Hotel in Bangalore.

The Japanese company has entered the deal through its India subsidiary Toyota Enterprises India Pvt Ltd.

As part of the joint venture, TEP India will take over 52 rooms out of the existing 120 at The Chancery Hotel for a period of seven years for management, marketing and maintenance through a minimum guarantee agreement. The JV is set to come into force from January 2013 once the guest rooms are done.

Commenting on the company’s entry into the Indian market, Kazuyuki Kawai, president of Toyota Enterprise, said,"Bangalore has a large presence of Japanese companies and there is an increasing demand for accommodation facilities where the Japanese can stay. The Chancery Hotel will be responsible for the implementation of optimal hotel operation based on TEP India’s planning and marketing to create an ideal hospitality environment.” 

Changama Raju, chairman of The Chancery Hotel, Bangalore has said,"A portion of the hotel will incorporate the Japanese guest room standards by meeting their cultural requirements."

An industry analyst predicted the tie-up would help Japanese firms like Toyota cut the cost of boarding and lodging as now they are forced to stay at places charging much higher rates when the Japanese firms are looking for places with Japanese ambience and cuisine for their senior executives.

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