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| ABIL to pump in Rs 600 cr to set up 3 five-star hotels |
| BS Reporter / Mumbai/ Pune May 25, 2009, 00:23 IST |
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The Avinash Bhosale Group (ABIL) is planning to invest Rs 600 crore for setting up three five-star hotels in Pune, Nagpur and Mumbai over the next three years.
The 280-room hotel in Pune will be launched by October, while the other two hotels will come up by 2011. ABIL Chief Executive Officer Sudhanshu Purohit said, “We have a strong presence in real estate and infrastructure sectors. Now, we are focusing on the hospitality segment. We already run Sun-n-Sand hotels in Pune and Goa through a joint venture company named CCPIL. Now, we are planning for three more hotels in Pune, Nagpur and Mumbai.”
While the Pune property would be operated by Westin Hotels, the hotel coming up in Parel-Mumbai would be run by the Shangrila Group. The property in Nagpur would be operated by CCPIL under the brand name ‘Sun-n-Sand’.
However, the group has delayed its ambitious five-star hotel project near Palm Beach in Navi Mumbai called Metropolice in the wake of the delayed international airport project there. The company has acquired 10 acres there for the project.
“We have slightly delayed the Navi Mumbai project because it is meant to address the requirements of the officials involved in the development of the upcoming international airport there. Once the actual work begins at the site, we will start the construction of our hotel,” Purohit said.
The company is also developing a super luxurious cold-shell residential project called God’s Blessings in Pune, where every apartment has an area of more than 5,000 square foot. “The project is nearing completion. The flats will be sold in a cold-shell manner to buyers. Later, according to the buyers’ requirements, we will complete the interiors,” Purohit said, without disclosing the project cost.
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