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Saturday, September 10, 2011

Madhucon to set up 2 hotels in Hyderabad

This story first appeared in DNA Money edition on Thursday, September 8, 2011.

Madhucon group, which is into construction, granites, coal, power and sugar, is foraying into the hospitality sector. Nama Hotels Pvt Ltd (NHPL), its associate company, is developing two hotel projects in Hyderabad, which would be managed by InterContinental Hotels Group (IHG) — the world’s largest hotel management company by number of rooms.

IHG said it has signed four new management contracts in India, of which two developments are from Nama Hotels. According to IHG, both these hotels will start receiving guests by 2013.

The two Madhucon hotels under construction are part of a mixed-use development consisting of a shopping mall and commercial and office space.
This entire project is spread over a nine acre land parcel located opposite Jawaharlal Nehru Technological University at Kukatpally in Hyderabad.

“The two hotels will be managed under Holiday Inn Express and Holiday Inn brands featuring 160- and 360-rooms, respectively,” said an IHG update.

A Holiday Inn property in India is positioned as a mid-scale product while a Holiday Inn Express is a select service offering for the value seekers.

Between both the projects Nama Hotels is likely to incur an overall cost of Rs140-150 crore.

The IHG update said that a 179-key project in Sarjapur in Bangalore has been signed under Holiday Inn Express brand to be developed by Duet Smart Hotels India.

Another Holiday Inn Express to be developed by realtor JMD Group on the Golf Course Extension Road in Gurgaon, Haryana, will feature 168 rooms in total.

Both hotels are expected to be operational by 2013.

With the four new agreements, the IHG’s under-construction hotels in India have risen to 47 across its InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express family of brands. The new hotels will add approximately 900 rooms to IHG’s planned 10,000 India room inventory over the next two-three years.

The hotel company currently operates 15 hotels in key Indian cities and is on track to have a 150-hotel presence by 2020, Jan Smits, chief executive officer, IHG AMEA, said.

“A host of Holiday Inn and Holiday Inn Express hotels are being planned to serve guests across key Indian cities. And as we increase our presence in India,” Smits said.

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