(12PressRelease.com) The serviced apartment concept is catching up fast in India especially in the South as these apartments offer both short and long term stays for business and leisure travelers. The growth in IT and IT enabled services sector has largely influenced the growth of the serviced apartments sector, according to Sudhakara Reddy, Managing Director and Chairman, Regaliaa Realty, a listed company which had set up serviced apartments under the brand name ´Homcourt‘.

Addressing presspersons here on Wednesday, Mr.Reddy said with a growing number of expatriate professionals in India and a steady rise in leisure travelers, many local and foreign players, including Ascott and Oakwood, were setting up serviced apartments.

Mr.Reddy said Regaliaa Realty was already operating a serviced apartment with 11 rooms in Chennai. It would be adding five more rooms in this facility by September, Mr.Reddy said. Besides, the company had opened a serviced apartment in Hyderabad with 27 rooms. The plan was to become a multi-city brand by expanding presence in Bangalore, Coimbatore and Pune, Mr.Reddy said

For more information please visit: http://www.homcourt.com