Hospitality sector projects by Brigade Hospitality Services Ltd in
Project Information
6089
Brigade Hospitality Services Ltd
Brigade Hospitality Services, a part of real estate developer Brigade Group, plans to invest around Rs 750 crore to open up to eight new hotels by 2020.
The company partners international hospitality chains like the InterContinental Hotels Group and Accor is looking at cities, including Bangalore, Mysore and Chennai, for the new properties.
"We propose to invest between Rs 650-750 crore in our upcoming six to eight hotels. This cost is exclusive of the land price," Brigade Hospitality Services Ltd CEO & Executive Director Vineet Verma told PTI.
Of the new upcoming hotels, two will be opened in the later half of 2015 -- Grand Mercure, Mysore in partnership with Accor and the Holiday-Inn Tidel Park, Chennai in partnership with InterContinental Hotels Group (IHG), he added.
When asked about the other cities where the hotels will be located Verma said: "The remaining projects are still in the planning stage. However, the development would be made in key city locations of Bangalore, Mysore and Chennai".
On being asked about financing for the upcoming projects Verma said: "We propose to fund our new projects through a combination of internal accruals and debt. We are also open to taking in investment partners and are on the look out."
The realty major had earlier entered into a partnership with global hospitality chain InterContinental Hotels Group to open Holiday Inn Express hotels is also open to other such pacts.
"We have signed an MoU with IHG for setting up 10 Holiday Inn Express hotels. While the focus will be to expedite the setting up of these properties, there are other international brands as well with whom we work. Some of our other hotel projects will be in association with these brands," Verma said.
Project Value
INR 750 Crore /-
Conceptual
Multi State
India
Hospitality
Disclaimer :
We takes all possible care for accurate & authentic tender information, however Users are requested to refer Original source of Tender Notice / Tender Document published by Tender Issuing Agency before taking any call regarding this tender.
