IHHR goes for 2nd hotel project in Bangalore

Buoyed by a shortage of five-star rooms, IHHR (Indian Hotel & Health Resorts) Hospitality, which operates 'Ananda - in the Himalayas', will go in for its second luxury hotel in Bangalore. It is also preparing for its initial public offer (IPO) in 2007 to fund its foray into tier II cities in India and abroad.

The company on Friday announced the launch of its first hotel, Ista Trinity Church "" a 143-room and suites located in prime city centre (old Lido theatre premises) near Trinity Circle built at a cost of Rs 82.5 crore.

Addressing a press conference to announce the group's foray into Bangalore's hospitality market, Ashok Khanna, managing director of IHHR Hospitality, said that the 70-room second hotel 'Ista Golf View' is to be built at a cost of Rs 45 crore and located in Koramangala on the inner ring road.

Rooms at 'Ista Trinity Church' are priced around Rs 10,000 for single rooms as a launch offer and is expected to fix prices for peak season post-October 2006.

'Ista Trinity Church has two restaurants 'Zaman' "" a dining restaurant with north Indian Awadhi cuisine and 'Lido' "" a contemporary all-day indoor and outdoor dining. The hotel also has 'Liquid', an al fresco lounge bar with a view of the city. The company expects the Bangalore hotel to be profitable in the first month of its operations and is expected to break-even in four years, said Ashok Khanna.

Gautam Khanna, chairman, IHHR Hospitality said that group has lined up a Rs 500 crore capex plan to foray into city hotels scene.