Sant Chatwal to invest Rs4,500 crore in 7-star hotel chain
12 Mar 2007
New Delhi: Indian-American businessman, Sant Singh Chatwal, will invest Rs4,500 crore by 2009 for setting up a chain of hotels, including a 7-star hotel, in India.
All hotels would be state-of-the-art with different food restaurants, discotheques and conference rooms.
Chatwal president and CEO of Hampshire Hotels and Resorts told the media that the group would create convention centres with a capacity for 2,000-3,000 people in every hotel.
He said the company is at present making the master plan for phase-I, which includes high-end 7-star hotels in major cities like Delhi/Noida, Mumbai and Bangalore and dream hotels in Kochi, Hyderabad and Chennai.
Chatwal said he has already acquired land in Bangalore, Noida, Kochi and Hyderabad while negotiations are on in Mumbai and Chennai.
HHR owns hotels in the US, UK and Thailand with over 2,500 rooms in Manhattan. Along with this, the 1.5 billion dollar group has set up Bombay Palace locations around the world including Montreal, Toronto, New York, Washington, Houston, Budapest and Kuala Lumpur.
The foundation stone for the first hotel would be laid in May this year in Kochi followed by other sites.