The Hindu Business Line : Parsvnath to construct 14 hotels

Delhi based real estate player Parsvnath Developers is planning to construct 14 hotels across the country. The company will enter in to a tie-up with a hotel chain for the operation of the hotels. "We are talking to both domestic and international chains for a arrangement where in they will manage the hotels while we will own the property," said Parsvnath Chairman, Mr Pradeep Jain at the `bhumi pujan' ceremony for one of its malls in the Capital on Thursday.

The company thus plans to build 2,100 rooms in the 4-star and 5-star category with a total investment of Rs 2,000 crore including the cost of the land. The hotels will be located in Delhi, Chandigarh, Lucknow, Shirdi, Jodhpur, Ahmedabad and Kochi among other places. "We will get all the sanctions in the next 3-4 months and the first hotel will be operational by March 2009. The rest will be ready in the next one year of that," said Mr Jain.

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Parsvnath to construct 14 hotels