IHCL and Ambuja Neotia expand West Bengal hotel partnership to 20 properties
Ambuja Neotia Group has increased its investment allocation for the joint projects to Rs 2,700 crore.
Indian Hotels Company (IHCL) and Ambuja Neotia Group have increased their partnership to develop and operate 20 properties in West Bengal. The companies previously agreed to open 15 new properties last year.
Of the 20 properties, 11 are currently operational and nine are in various stages of development. These sites will be located in Kolkata, Raichak, Digha, Siliguri, Lataguri, Kalimpong and Darjeeling over the next two to five years.
The investment includes the launch of AltAir House, under the IHCL SeleQtions brand, in Kolkata and Siliguri. Additionally, a Rs 100 crore expansion is planned for Taj Chia Kutir Resort & Spa in Darjeeling, which will provide 28 keys and 15,000 sq ft of banqueting space.
The nine properties currently in the pipeline will add 739 keys to the IHCL portfolio. This includes 354 apartments at Taj Uvanta signature residences in Kolkata and 10 villas at Taj Himaya Kutir in Darjeeling.
IHCL managing director and chief executive officer Puneet Chhatwal said the opening of AltAir House strengthens the partnership. He also noted that the company is expanding into Agartala and Kaziranga.
Group Chairman Harshvardhan Neotia said the Ambuja Neotia Group is consolidating its hospitality companies before a proposed IPO of the division. He described AltAir as a luxurious, boutique brand with an art-deco design.