Assotech Realty, a real estate development company, has announced their foray into the hospitality industry with the initiation of its first serviced apartment in Shirdi recently. To be built with an investment of about Rs 100 cr, the 142-room serviced apartment with five-star facilities will be the first in the series of similar projects the real estate developer intends to take up in pilgrim and business destinations across the country. These serviced apartments will be managed and operated by Sandal Suites, a subsidiary company of Assotech Realty.
Talking to Hospitality Biz during the foundation laying ceremony of their Shirdi property, Neeraj Gulati, Managing Director, Assotech Realty said that the company is now focused on expanding their offerings in the serviced apartment segment by offering the next level of 'living experience' and coming up with a chain of high-end serviced residences targeting pilgrim sector. “Our sites are located at Katra, Jammu and Kashmir, and Tirupati in Chittoor district of Andhra Pradesh," he said.
The first phase of expansion also includes cities like Bengaluru, Mumbai, Hyderabad, Gurgaon, Noida (under construction), Lucknow and Indore for business segment. Assotech also has plans to set up serviced apartments in leisure destinations like Goa and Kochi at a later stage, Gulati said.
Talking to Hospitality Biz during the foundation laying ceremony of their Shirdi property, Neeraj Gulati, Managing Director, Assotech Realty said that the company is now focused on expanding their offerings in the serviced apartment segment by offering the next level of 'living experience' and coming up with a chain of high-end serviced residences targeting pilgrim sector. “Our sites are located at Katra, Jammu and Kashmir, and Tirupati in Chittoor district of Andhra Pradesh," he said.
The first phase of expansion also includes cities like Bengaluru, Mumbai, Hyderabad, Gurgaon, Noida (under construction), Lucknow and Indore for business segment. Assotech also has plans to set up serviced apartments in leisure destinations like Goa and Kochi at a later stage, Gulati said.