The Hindu Business Line : Vascon, InterContinental tie-up for biz hotel at Balewadi

Pune March 21 Vascon Engineers is constructing a four-star business hotel at Balewadi near Pune and has tied up with the InterContinental Hotels Group to manage it as a Holiday Inn hotel property.

Mr R. Vasudevan, Chairman, Vascon Engineers, said that the plan is to complete construction of phase I and have the hotel operational before October 2008.

The Rs 150-crore, 250-room project that is being jointly promoted by Vascon Engineers, Pristine and Jasper Developers will be spread over three acres. In the first phase, 175 rooms will be constructed while an additional 75 rooms will be constructed subsequently. The facilities include a health club, meeting rooms, business centre, 24 hour restaurants, swimming pool, multi-cuisine/theme restaurants and bar lounge.

The new hotel is part of the Vascon Group's foray into the hotel industry. Mr Vasudevan said, "At present, there is a shortage of 2,000 rooms in Pune, and Vascon plans to add at least 1,500 rooms in the next two to three years."

Vascon Engineers is already constructing the Hyatt Regency with about 250 rooms plus 75 service apartments that will be ready by March 2008 on Ahmednagar Road. Apart from this, they have tied up with the Royal Orchid to manage 105 rooms and 80 service apartments at Kalyani Nagar that will become operational in April. They have also identified land and are constructing large number of service apartments. Most of it will be operational by mid-2008.

Vascon is already active in the hospitality service, and has two operational boutique resorts in Goa.

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