Real estate developer Uppal Group has tied up with hospitality major JW Marriott for developing and managing two five star hotels at an investment of Rs 500 crore.
“We will be investing about Rs 500 crore for developing both properties which will be managed by international chain JW Marriott Hotel,” Uppal Group CEO (SEZ and Hotels) Gian Bansal said.
One of the hotels would come up in Gurgaon comprising 210 rooms, while other hotel in Chandigarh would have 175 rooms. This would be a revenue-cum-profit sharing agreement with the international hotel chain, Bansal said. Both properties would be operational by 2009.
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The Rs 2,500 crore Murli Dhar Lakh Ram (MDLR) Group has plans to construct the biggest hotel project over 11 acres in Gurgaon. According to its CMD, Gopal Goyal, it is making its debut into hospitality with back to back three hotel projects. He added that these hotels will have a tie-up with an international brand for marketing and are being targeted in the luxury segment with luxury villas, commercial complex, spas, etc. Informing about his second project, Goyal says, This project is coming up in the Manesar IMT located in the heart of the industrial model township with an elite neighbourhood with boutique fashion bars and lounges and a suspended glass pool, scheduled to have a soft launch in November 2008. The third project is coming up in sector 14 of Gurgaon which will be a high rise luxury hotel. MDLR has over the years expanded their activities from real estate development to high value construction areas. It has its business interests in commercial and residential real estate development, farmland development, facility management, shopping malls, resorts, hotel, multiplexes and restaurants. It even launched short-haul airline operations in few sectors starting from Chandigarh.For more view- realtydigest.blogspot.com