The Hindu Business Line : Ambuja Group plans to develop resorts in West Bengal

The Ambuja Group is planning to invest Rs 1,000 crore over the next five years to develop resorts and hotels in West Bengal, according to Mr Harshvardhan Neotia, Chairman, Ambuja Realty.

Addressing newspersons at the launch of its boutique resort at Raichak, nearly 50 km from here on Friday, Mr Neotia said, “We want to move towards the hospitality segment in a significant manner after having established ourselves in the residential segment.”

The subsidiary of Ambuja Realty, GGL Hotel & Resorts, would develop a chain of four to five boutique resorts, each entailing an investment of Rs 30 crore, in the tourist spots of West Bengal and a number of five-star hotels, including one in Kolkata, he said.

Funds

“Our focus in next 2-3 years would be West Bengal, though we also plan to take the resort chain to other parts of the country in due course,” he said adding that the funds required would be raised by a combination of debt instruments and internal accruals.

Mr. Neotia inaugurated the first of its chain of boutique hotel called Ganga Kutir, built at an investment of Rs. 12 crore on 2.5 acres near its existing hotel called Fort Raichak on the bank of the Hooghly river.

The 18-room resort, overlooking the river, was targeted towards affluent customers such as the NRIs, foreign tourists and business delegates who would be looking to spend their weekends in a clam and leisurely atmosphere, he observed.

“In another year, we would add 12 more rooms in the resort,” he said.

The branding exercise for the chain of resorts was currently being finalised in association with a consultant, he added.

More Stories on : Diversification | Resorts & Amusement Parks | Other States

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