Chl Plans Rs 80 Crore Hotel In South India

The company is in the process of identifying a suitable site for the hotel project. CHL managing director L K Malhotra said, "We have identified some sites in prime locations at Bangalore, Hyderabad and Chennai, and are in the process of finalising one of the sites soon". The company intends to start construction this year and expects the hotel to be operative by 2003, he added.

Malhotra said the company also plans to bring its 100-room hotel-cum-business complex, Hotel Mela Plaza, Ghaziabad with CHL. "We see bright prospects for the hospitality segment and intend to consolidate our hotel business," he said.

 

Mela Plaza is currently owned by Mela Hotels Ltd.

The group has postponed the idea of opening a hotel in Tajikistan due to the prevailing economic situation in the CIS countries. "The plan of a hotel project in Tajikistan has, however, not been shelved," Malhotra said.

Stating that all the new hotel projects will come under the CHL umbrella, Malhotra said the company is open to a tie-up with any international hospitality brand.

Meanwhile, CHL's Delhi property, the Surya, is all set to be re-christened as 'Surya Crowne Plaza.' Crowne Plaza is one of the leading brands of the UK-based Bass Hotels & Resorts. The hotel is currently being renovated to upgrade the property from a five-star hotel to five-star deluxe hotel as per the specifications of Crowne Plaza. The hotel is likely to be re-opened mid September, according to a company source. The hotel has invested Rs 23 crore to upgrade the property.

The Rs 450-crore Malbros Group has diversified interests in Kuwait, Dubai and India. The company, currently engaged in trading, rice exports and hotel business, is also diversifying into infotech. It has recently signed a joint venture agreement with UK-based information technology company ICS (London).