• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Sankar Radhakrishnan

Thiruvananthapuram , May 12

A CONSORTIUM led by the Mumbai-based Khanna Hotels has emerged as the successful bidder for one of the remaining three resort sites at Bekal in Kerala's Kasargod district.

The consortium won the bid to develop the `RS5' resort site, which covers an area of 28.6 acres with substantial beach frontage, a cliff and access to the backwaters, said an official.

The other bidder for this property was the Taj group of hotels, he added. No offers were received for two other resort sites for which the Bekal Resorts Development Corporation (BRDC) had recently invited competitive bids, the official stated.

With this development, four of the six resort sites in the Bekal area have been leased out. Khanna Hotels will develop two of these sites, while the New Delhi-based Bharat Hotels and the UAE-based Holiday group will develop one each.

The BRDC's board will soon take a decision on the future course of action to be adopted for the development of the remaining two sites for which no offers have been received in the current round of bidding, the official explained. One option being considered for the `RS4' site, which does not have direct beach access, is to position it as the site for an ayurveda resort.

According to industry sources, work on the development of the resorts is likely to start soon as the licence agreements have set out specific timetables that have to be met. If these timetables are not followed, the resort developers will have to pay a penalty to the BRDC.

More Stories on : Mergers & Acquisitions | Resorts & Amusement Parks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Anil Nanda skips board meet — Escorts passes Rs 100-cr term loan proposal

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line