Embassy REIT, Hilton open 211-key hotel development in Bengaluru

Development becomes fourth hotel to be launched under the partnership

Embassy Office Parks Real Estate Investment Trust (REIT) on Tuesday said it has opened a 211-key hospitality development in collaboration with New York-based hotel operator Hilton in Bengaluru.

 

“The development will be Embassy REIT’s fourth hotel with Hilton in the city,” the investment trust said in a regulatory filing to the stock exchanges.

 

The development is located within Embassy’s TechVillage commercial park and forms the first phase of its 529-key dual-branded Hilton development in the park. “The full development, with an additional 318-key Hilton Hotels & Resorts property, is expected to open later this year,” the trust added.

 

An Embassy REIT spokesperson told Business Standard that the development’s location within Embassy TechVillage would place guests close to major corporate offices and business hubs.

 

“Together, Hilton Garden Inn and the upcoming Hilton Hotels & Resorts property will provide complementary hospitality options for corporate occupiers, business travellers and visitors to the Outer Ring Road corridor,” the spokesperson added.

 

Embassy REIT already operates a 619-key twin hotel with Hilton in its Manyata Business Park and a 247-key Hilton hotel at Embassy GolfLinks in Bengaluru.

 

With this, Hilton’s portfolio in Bengaluru has reached 13 properties, making the city its largest cluster in India.

 

“Featuring 211 rooms with modern amenities, the new Hilton Garden Inn is designed around intuitive functionality, offering efficient workspaces, seamless connectivity and flexible meeting facilities for guests seeking smarter stays on Outer Ring Road,” said Alan Watts, President, Asia Pacific, Hilton.

 

While the REIT did not respond to queries related to the investment, it stated that Hilton will be the operator, while the property will be owned by Embassy.

 

The trust owns and operates a portfolio of over 50 million square feet (msf) of office space across Bengaluru, Mumbai, Pune, the National Capital Region (NCR), and Chennai.

 

The portfolio comprises 14 office assets, four operational business hotels, three hotels under development, and a 100-megawatt (MW) solar park that supplies renewable energy to tenants.

 

On Tuesday, Embassy Office Parks REIT's shares rose 1.08 per cent intraday before ending the day's trade at ₹438.21 apiece on the BSE.