Hotel - News & Analysis

Bharat Hotels to venture into economy segment

Bharat Hotels (now named as Lalit (named after the company’s founder Lalit Suri) is planning to venture into economy and budget hotels. The company which is in spate of expansion and setting up properties in mid-market segment across 7 cities is set to open by 2010. It had severed its connection with Intercontinental Hotels Group (IHG) in 2008 and is looking at a new brand name for its new properties. The company may loot at captial market to raise funds for its expansion. It may be noted, the company has delisted from bourses in 2003 after the promoters raised their equity over 95% by open offers.

Gateway Hotels to set up hotels in Rajkot and Gandhidham

Gateway Hotels, the mid-range brand of the Tata group's Indian Hotels Company (IHCL), plans to set up atleast two greenfield hotels in Rajkot and Gandhidham in Gujarat. It will look to carer to upscale segment of leisure and business traveller. According to sources, Gateway Hotels will be a stand alone enterprises except of reservations and booking online from Taj Website.

5 Hotels bids announced in Delhi hospitality district

Delhi International Airport Ltd (DIAL) a joint-venture company comprising India Development Fund, GMR Group, AAI, Fraport and Malaysian airport has around 45 acres allotted for hotel in the airport vicinity. It has invited 13 bids to construct hotels and Accor, Hyatt, LemonTree, Interglobe and Bird Group has won 5 hotels in it. The bidders will enter into a long term lease with DIAL for 30 years extendable for a further 30 years. It will also have to pay a annual rental (increasable of 5.5% every year) to DIAL and a intial refundable security deposit. A mix 3-4 and 5 stars are likely to come up on these 45 acres and 8 more bids are still to be evaluated.

Carlson group opens new-3 star hotel in Ahmedabad