West Pioneer Properties (India) Limited (WPPIL), the London Stock Exchange listed company is planning its foray into the Indian hospitality sector. The company which is primarily focussing on development of mixed-use properties in India, has tied-up with IHG for development of two hotels in the country. It will incur an investment of Rs 100 Crore in each of the hotels.

Speaking exclusively with Hospitality Biz, Amit Jatia, Chairman, WPPIL states, “We wanted to develop hotel assets in the mid market segment catering to the business clientele as the potential lies in development in this space.” The company is developing the hotels in Nasik and Aurangabad and it intends to build an inventory of approximately 400 rooms. The real estate company has tied up with InterContinental Hotels Group (IHG) on a management tie–up for the properties. The hotels will be developed under the Holiday Inn brand. Both the properties will be mixed–use development projects. The Nashik project is being developed on a 17 acre plot. The properties are yet to commence construction and are expected to be ready by early 2014.

http://www.hospitalitybizindia.com/detailNews.aspx?aid=4061&sid=1

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