JLL closes transaction mandate for upscale hotel in Ahmedabad
JLL has announced the completion of their mandate for sale of the 156 keys Ganesh Meridian Hotel at Ahmedabad.
Search Results: hotel development (190)
Smart strategies to drive growth of luxury hotels
Track2Realty: It is increasingly being observed that standalone luxury hotels are becoming unviable in the country, especially in the case of owned, built projects where the land is acquired, and typically comes at a high cost exceeding 40% of the total development cost.
GVK MIAL awards first land parcel for commercial development to Oasis Realty for Rs. 580 Crore
Track2Realty: Mumbai International Airport Pvt. Ltd. (MIAL), a GVK Led Consortium announced kick starting of monetisation of commercial real estate by finalising lease of one of the parcel, to Oasis Realty Pvt. Ltd. This parcel will have a potential for commercial development of 1.166 million square feet.
When a developer dares to opt for Destination Development
Track2Realty Exclusive: India has traditionally been a reluctant urbaniser and the developers have been even more reluctant to take the roads less travelled. For long it is the government agencies that have been catalyst to land acquisition and hand it over to the developers. Now that the Land Acquisition Bill is set to change the entire ballgame, Track2Realty wonders whether it is time to take a few case studies where a developer has dared to opt for ‘Destination Development’. Though such cases have been few and far between, the road ahead indicates even lesser first movers in the ring.
Report says 50,000 hotel rooms expected in top six metro cities in next five years
Track2Realty: The top six cities of India are expected to see a total of 50,000 new hotel rooms across categories in the next 5- 6 years. This is in response to the steady growth the hospitality sector has recorded over the last few years. 2012 alone is expected to see 14,800 fresh keys by the end of the year. Out of the total expected supply for 2012, 2000 new hotel rooms have already entered the market. These are the findings of a report by Cushman & Wakefield (C&W)and Confederation of Indian Industries (CII).
Potential and roadblocks co-exist for hotels-IV
Industry experts assert it is difficult to put a time frame on certain requirements like getting over a 100 Government permits from the time of starting construction to completion. Historically, hotel construction in India has been somewhat cumbersome owing to the multiple clearances/approvals required from Central and State Government agencies.
Potential and roadblocks co-exist for hotels-II
The operational inexperience of the developers’ is also being sewn up through strategic tie-ups with the majors in the hotel industry. An improving economic scenario and demand for more hotel rooms across categories is persuading international hotel chains to sign new management contracts with Indian developers and property owners, according to analysts. The industry will witness the announcement of a number of new hotels in the year ahead.
DLF sells hotel arm Adone for Rs 567 cr to cut piling debt
DLF, has sold its entire stake in Adone Hotels and Hospitality Limited (Adone) to Kolkata-based Avani Projects and Square Four Housing & Infrastructure for Rs 567 crore. This was in line with its strategy of divesting non-core assets to pare debt, DLF said in a statement.
Hyatt Introduces Hyatt House in India with agreement for hotel in Mumbai
Hyatt Hotels Corporation has introduced its new Hyatt House extended-stay brand in India, with the signing of a management agreement by a Hyatt affiliate for a hotel in Mumbai.
Luxury hotel brands eye India market
Many of the best luxury and ultra-luxury hotels from all over the world are readying plans to enter the India market, and are expected to set up chains over the next couple of years.