Business Daily from THE HINDU group of publications Friday, Mar 30, 2007 ePaper |
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Corporate
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Alliances & Joint Ventures Unitech ties up with global hotel chains Deepak Goel
New Delhi March 29 Unitech Ltd has entered into partnerships with international hotel chains such as Marriott, Carlson, Ritz Carlton and Country Inn for its foray into the hospitality sector, according to industry sources. The real estate player has tied up for management of 10 hotels out of the 28 that it is setting up under various star categories across the country. With Marriott International, it has joined hands to run two of its hotels in Gurgaon and one each in Kolkata and Noida. These four hotels would be in 4-5 star category. Unitech has also entered into an agreement with the Carlson chain for management of two of its hotels in Noida and another one in Kolkata. The three hotels would represent Unitech's plus-5 star range. For another plus-5 star hotel in Kolkata, the realty major has entered into a deal with Ritz Carlton. Country Inn has been roped in for management of one property each in Gurgaon and Bangalore in the 3-4 star category, according to sources. The 28 hotels of the company would account for around 7,000 rooms, to be constructed by 2010. Some of these hotels would come up in Hyderabad, Chandigarh and Kochi and Chennai, apart from Noida, Greater Noida, Kolkata and Gurgaon. Bullish on the hospitality sector in the country, a host of real estate companies have charted out plans to foray into the sector including DLF, Parsvnath and Emaar MGF. While DLF entered into a joint venture with Hilton Hotels Corporation, Emaar MGF has announced a tie-up with Accor for its budget class hotels.
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