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| Caparo to start hospitality biz in India with Ayatti |
| Press Trust of India / New Delhi Feb 19, 2010, 18:36 IST |
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Lord Swraj Paul-led Caparo Group today said it will mark its foray into India's hospitality sector with the opening of its Rs 200-crore socio-cultural centre at Greater Noida by July this year.
The project -- Ayatti -- is being developed by Caparo India and it is spread over a 21 acres of area.
"Different elements of hospitality already exist in the country. We are combining them in the centre. This will be a socio-cultural centre with the feel of a five-star hotel," Caparo Group Chief Executive Officer Angad Paul told PTI.
All the materials for the construction of the facility have been sourced locally in the country, he added.
"We have spent about Rs 200-crore in this project. We will open it by July as we want to cash in on the Commonwealth Games," Paul said.
Ayatti will have exclusive members and the company today launched its membership drive. The facility will have yearly renewable membership with a fee of about Rs 11,000 per month.
The project, started in 2007, will house art gallery, bar, convention centre, restaurants, spa and gyms, besides, providing lodging facilities with 59 rooms. It will employ 450-500 people.
Depending on the success of the model, the group would replicate such socio-cultural centres in other parts of India.
"If this (Ayatti) is successful, we will do more. Some people have approached us, mainly from the states where our businesses are already present," Paul said, adding the company could develop more such centres in association with state governments too.
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