Mumbai: Indian Hotels Company plans to locate its 29th Gateway Hotel in Kochi, with the proposed development of a 200-room hotel property, for which it has entered into a management contract with Muthoot Hotels & Infrastructure Ventures.
The hotel will be located off the highway leading to the Kochi International Airport opposite the 246-acre Smart City and in close vicinity to the 100-acre Info Park that houses leading IT majors like TCS and Wipro.
The location is also close to major developments such as Cochin Special Economic Zone (CSEZ), leading township developments like DLF City, Sahara City and Dubai Net City.
Raymond Bickson, managing director and chief executive officer, Indian Hotels Company, said, ''This initiative into the burgeoning markets is a key aspect of the domestic expansion strategy. Kochi has been in the forefront of rapid growth of corporate traffic, industry and the retail revolution coupled with a booming entertainment business. Strategic location and the timing of the project are the key factors in establishing our presence in this important market.''
The Muthoot Pappachan Group has focused interests in industries such as banking and finance, hospitality, automobiles, ceramics and power generation.