Realty firm Parsvnath Hotels Limited (PHL) has tied-up with Choice Hotels to foray into the budget hotel segment. PHL plans to open 20-25 properties across India in the next two years with these properties, which are currently under various stages of development.
Out of the 25 properties, PHL has identified Dehradun, Raipur, Gangtok, Shimla, Guwahati, Allahabad, Puducherry, Calicut, Siliguri and Kanpur. The upcoming properties will be owned by PHL and managed and franchised by Choice Hotels. The first property ‘Comfort Inn’ with 40 rooms will be operational at Greater Kailash in New Delhi by December 2011.
The property will have an F&B outlet and conference rooms. Deepak Mowar, Vice President, Parsvnath Hotels Limited said, “We are looking at acquisition of properties on lease, JV or ownership basis. These properties will be owned by Parsvnath Hotels Limited and managed and franchised by Choice Hotels International.” The upcoming properties will have 25-100 rooms and will be located in metros, leisure, business and pilgrim destinations. The investment for the upcoming properties has not been disclosed to the media.
Out of the 25 properties, PHL has identified Dehradun, Raipur, Gangtok, Shimla, Guwahati, Allahabad, Puducherry, Calicut, Siliguri and Kanpur. The upcoming properties will be owned by PHL and managed and franchised by Choice Hotels. The first property ‘Comfort Inn’ with 40 rooms will be operational at Greater Kailash in New Delhi by December 2011.
The property will have an F&B outlet and conference rooms. Deepak Mowar, Vice President, Parsvnath Hotels Limited said, “We are looking at acquisition of properties on lease, JV or ownership basis. These properties will be owned by Parsvnath Hotels Limited and managed and franchised by Choice Hotels International.” The upcoming properties will have 25-100 rooms and will be located in metros, leisure, business and pilgrim destinations. The investment for the upcoming properties has not been disclosed to the media.