1 Nov 2012

Supertech Builder News For Noida

Supertech ties up with Leela Palaces for Rs 450 cr Noida hotel

New Delhi: Real estate firm Supertech today announced tie up with hospitality chain The Leela Palaces, Hotel and Resorts for management of its luxury hotel in Noida that is being developed at an investment of Rs 450 crore.
The 250-rooms hotel, which is part of a mixed-use project 'Supernova' with 5 million sq ft of built-up area, would be completed in four years.

"We have signed management contract with Leela Palaces for our hotel in the prestigious project Supernova," Supertech Chairman and Managing Director R K Arora told reporters here.

The hotel will be developed at an investment of Rs 450 crore and the total cost of entire project is Rs 2,700 crore, he said, adding that the proposed investment would be funded through internal accruals, debt and private equity.

Leela Group Vice Chairman and Managing Director Vivek Nair said: "Noida is an upcoming area of Delhi-NCR. With hotels in Delhi and Gurgaon already operational, We will be covering all the major destinations of the national capital region".

Asked about the revenue sharing, Nair said the management fees is as per the industry practice.

Leela Group currently has eight hotels comprising 2,200 keys in its portfolio at Bangalore, Gurgaon, Mumbai, New Delhi, Chennai, Goa, Kovalam and Udaipur. Out of eight hotel properties, six are owned and two are management contracts.

Leela is coming up with hotels at Jaipur, Agra and Ashtamudi (Kerala) and Bangalore.

Supertech would develop branded residences in the upper part of the hotel building to be managed by Leela Group.

"We are in advance stage of discussion with world- renowned fashion brands including Armani," Supertech Director Mohit Arora said.

Source:http://www.financialexpress.com/news/supertech-ties-up-with-leela-palaces-for-rs-450-cr-noida-hotel/1024726/0

1 comment:

  1. Leela Group a best group.

    Leela group currently has eight hotels launching - Bangalore, Gurgaon, Mumbai, New Delhi, Chennai, Goa, Kovalam and Udaipur.

    Jaipur Builders

    ReplyDelete

Please Read carefully before commenting ...

1 - Please use unique contain because all comment automatically post our Facebook Page as Real Estate Updates in India and Twitter Page: PropAhmedabad,your duplicate contain is harmful for your link Popularity.

2 - Do not use multiple LINK or URL in One Comment.

3 - Use standard writing style and punctuation.

4 - Regular sentences and basic grammar will help others understand you.

5 - Comments should not harass, abuse, or threaten anther's personal safety or property, make false statements, defame or impersonate someone else.Remember this is a public forum. Do not post personal information including phone numbers, email or mailing addresses, or credit card information belonging to you or others

Thanks For Your Commenting..