IHCL and Ambuja Neotia expand West Bengal hotel partnership to 20 properties
Ambuja Neotia Group has increased its investment allocation for the joint projects to Rs 2,700 crore.
Indian Hotels Company (IHCL) and Ambuja Neotia Group have increased their partnership to develop and operate 20 properties in West Bengal. Of these 20 properties, 11 are currently operational and nine are in various stages of development.
The projects will be located in Kolkata, Raichak, Digha, Siliguri, Lataguri, Kalimpong and Darjeeling over the next two to five years. Ambuja Neotia Group has raised its investment for these projects to Rs 2,700 crore.
The expansion includes the launch of AltAir House, an IHCL SeleQtions brand, in Kolkata and Siliguri. It also involves a Rs 100 crore expansion of Taj Chia Kutir Resort & Spa in Darjeeling, which will add 28 keys and 15,000 sq ft of banqueting space.
The nine properties currently in the pipeline will contribute 739 keys to the IHCL portfolio. This includes 354 apartments at Taj Uvanta signature residences in Kolkata and 10 villas at Taj Himaya Kutir in Darjeeling.
IHCL managing director and chief executive officer Puneet Chhatwal said the opening of AltAir House in Kolkata and Siliguri strengthens the partnership. He also noted that the company is expanding into Agartala and Kaziranga.
Group Chairman Harshvardhan Neotia said the group is consolidating its hospitality companies before a proposed IPO for the division. He described AltAir as a luxurious, boutique brand with an art-deco design.