Shristi Infrastructure Development Corporation Ltd’s ‘Westin’ branded luxury hotel at Kolkata may be operational in early 2014. Plans are also afoot to have another star hotel in Udaipur in Rajasthan.
Spread over an eight-acre plot in the satellite township of Rajarhat, in the Eastern fringes of Kolkata, the hotel will have a total of 323 rooms spread across two towers at an estimated investment of over Rs 600 crore.
“We need another year and two months for completion of the hotel. We are looking at an inauguration time of around early 2014,” Sujit Kanoria, Managing Director, Shristi, said at an event organised by Srei Foundation here in the city. According to Kanoria, the company has already tied up with Westin Hotels and Resorts for 15-year management contract of the project. Westin is an upscale hotel chain owned by the US-based Starwood Hotels & Resorts Worldwide.
“The contract is renewable after 15 years. We tied up with Westin because of its strong booking network,” he said.
The project is likely to break-even by 2020, he said.
Apart from the hotel, retail facilities and outlets will also be located between the two towers of the hotel.
Udaipur project
According to Kanoria, Shristi was also looking to set up another star-category property in Udaipur (Rajasthan).
The Udaipur project would have 200 rooms and will come up at an expected investment of Rs 240 crore.
“Construction work for the project has already begun,” he said.
Srishti on its part was looking to tie-up with another hotel chain for management contract of the property.
“We have till now not tied up with anyone for management contract,” Kanoria said.
Published on December 23, 2012
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