Ambuja Neotia and IHCL to invest Rs 3,000 crore in West Bengal hospitality
The partnership plans nine new projects across the state over the next five to seven years.
The Ambuja Neotia Group and Indian Hotels Company Ltd (IHCL) will invest approximately Rs 3,000 crore in nine hospitality projects in West Bengal over the next five to seven years, according to ThePrint on Saturday.
Ambuja Neotia Group Chairman Harshavardhan Neotia said the investment reflects confidence in the region's tourism potential. The projects will be located in Kolkata, Raichak, Digha, Siliguri, Lataguri, Kalimpong and Darjeeling.
Neotia and IHCL MD and CEO Puneet Chhatwal unveiled the AltAir House – IHCL SeleQtions in Kolkata and Siliguri on Saturday. The total investment includes these two hotels and a Rs 100 crore expansion of the Taj Chia Kutir Resort & Spa in Darjeeling.
Other upcoming projects include the Taj Ananta Kutir and Taj Uvanta Signature Residences in Kolkata, the Taj Himya Kutir and Taj Himya Branded Villas in Ghoom, and the Taj Terai Kutir in Siliguri.
The companies currently operate 11 hospitality projects in the state, a figure expected to rise to 20 upon completion of the new facilities. Neotia stated that the Rs 3,000 crore commitment is part of a larger Rs 15,000 crore vision for hospitality, healthcare and real estate in the state.
Chhatwal said the partnership aims to expand IHCL brands in the region and noted that the hospitality sector creates significant indirect employment and income for the state.