Brigade Enterprises Ltd’s shares were up by 1.09% after the company partnered with IHG Hotels & Resorts to introduce the InterContinental to Hyderabad.

According to the company, this collaboration is a part of IHG’s strategy to expand its luxury and lifestyle portfolio in India and Brigade’s plan to enhance its hospitality footprint in Hyderabad. 

The InterContinental Hyderabad Neopolis is scheduled to open in 2029 as part of Brigade’s upcoming mixed-use development. According to the company, their pipeline of 100 hotels and resorts (in 2023), reflected a 45 per cent growth from its current system size. 

The InterContinental Hyderabad Neopolis is expected to feature 300 rooms and offer five dining options, including a signature restaurant, two specialty restaurants, and a lobby lounge. The hotel will also include conferencing facilities, a fitness centre, spa, swimming pool, outdoor recreation area, and a retail outlet.

Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said, “Hyderabad is gaining prominence as one of the best cities in the country with the upcoming IT sector, global retail presence and heavy industries. This can present an appealing opportunity to us to deliver unparalleled luxury experiences to a new set of travellers.” 

The shares were up by 1.09 per cent to ₹1,025 at 12.50 p.m. on the BSE.