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 expanded their partnership to develop and operate 20 properties in West Bengal, according to Moneycontrol. 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, an IHCL SeleQtions brand, in Kolkata and Siliguri. Additionally, a Rs 100 crore expansion is planned for the Taj Chia Kutir Resort & Spa in Darjeeling, which will add 28 keys and 15,000 sq ft of banqueting space.
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.
The nine properties currently in the pipeline will contribute 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.
Ambuja Neotia Group Chairman Harshvardhan Neotia said the group is consolidating its hospitality companies before a proposed IPO for the division. He described AltAir as a boutique brand featuring art-deco design.