Sunday PropTech acquires 89-room hotel in Kolkata
The hospitality ownership company has entered the eastern Indian market by purchasing a property in the Rajarhat area.
Hospitality ownership firm Sunday PropTech Ltd has acquired an 89-room hotel in the Rajarhat area of Kolkata, according to the Economic Times. This acquisition marks the company's first hotel in the city and its entry into eastern India.
The six-storey property was built in 2017 and is situated near the Netaji Subhas Chandra Bose International Airport. The company intends to operate the hotel under its mid-premium Clubhouse brand.
Sunday PropTech plans to rebrand and reposition the asset in the coming months. The firm will use the technology platform, distribution network, and hospitality brand ecosystem of its backing entity, PRISM, to enhance guest experience and operational performance.
Board member Saurav Agarwal said the company is confident in the tourism and hospitality potential of West Bengal. He also thanked the state government for its facilitation and noted that the company is looking at more hotel investment opportunities in the state.
The company stated that Kolkata is a key market for expansion due to rising commercial activity, business infrastructure, and demand from corporate travellers. Sunday PropTech recently purchased eight premium serviced-apartment hotels valued at around Rs 800 crore.
The firm, which operates in India, the UAE, and the US, is also expanding into Europe. The newly acquired properties will be managed under PRISM brands, such as Belvilla and Sunday Hotels.