ITC to set up a 5-star hotel in Ahmedabad

Earmarks investment of Rs 300 crore.

ITC Ltd, one of the India's leading private sector companies with a market capitalisation of over $13 billion and a turnover of $3.5 billion, will set up a five star hotel in Ahmedabad under the banner of ITC-Welcomgroup chain of hotels. The proposed deluxe hotel will have a capacity of 250 to 300 rooms and will cost ITC Rs 300 crore.

The hotel will be located in the central area of the city. The project will begin in 2007 and construction will be completed by 2010. At present, the company is looking for a location in Ahmedabad, and the preferred location for the project will be in the heart of the city.

This will be the company's fourth hotel in Gujarat and second in Ahmedabad as ITC Ltd already has a Welcomgroup hotel in Vadodara, hotel Fortune Landmark in Ahmedabad and Fortune Hotel Galaxy in Vapi under the banner of Fortune Park Hotels Ltd, which is a subsidiary of ITC Ltd.

Talking about the company's proposed hotel project in Ahmedabad SSH Rehman, executive director of ITC Ltd, said, " We will be setting up a deluxe hotel in Ahmedabad. The proposed hotel will be in lines of five star hotels and it will have a capacity of 250 to 300 rooms. We are planning to invest around Rs. 300 crore in this project."

Elaborating the project plans Rehman said, "We are in the process of looking for an appropriate location in the city as we want to set up the project in the central area of the city. We have selected some places but the final selection is yet to be done."

"The project will commense in 2007 and the hotel will be in place by 2010," Rehman added.

Rehman was in the city to particpate in the National Tourism Conclave 2006 organised jointly by Confederation of Indian Industries-Gujarat and the tourism department of Gujarat government.