Thursday, April 28, 2005

Prestige to develop luxury hotel for Hilton in Bangalore

Prestige to develop luxury hotel for Hilton in Bangalore
The Hindu Business Line

PRESTIGE Estates Projects, a property development company, has announced a tie-up with hospitality major Hilton International for developing a luxury hotel in Bangalore.

The hotel, to be promoted by Prestige at a cost of Rs 200 crore, will be managed by Hilton.

This is the second international brand to associate with a domestic player for a hotel project in Bangalore, after Marriot announced its intention to partner a Mumbai investor in managing the property in the city.

Announcing the details of the project at a joint news conference on Wednesday, Mr Irfan Razack, Chairman of the Prestige group, said that the proposed The Hilton Bangalore will have 300 rooms with modern facilities and is expected to be ready by mid-2007.

Mr Razack did not spell out the capital structure, which is still being worked out. The Prestige group has completed 120 projects in the residential and IT infrastructure sectors.

It recently announced the launch of a project called Shantiniketan, a 105-acre township containing about 3,000 apartments, a multiplex, a shopping mall, and a World Trade Centre.

Mr Koos Klein, President, Hilton International, said that The Hilton Bangalore would combine contemporary architecture with local culture. Since India is emerging as a fast growing economy, Hilton is planning five more ventures in the country, he added.

One of them will be a unique eco-resort with villas and facilities for health and wellness such as spa, yoga, and meditation.

He refused to give details about the projects, only indicating that the eco-resort would come up near Mumbai.

Hilton, which had unsuccessfully partnered a leading Delhi hotel chain and the Bangalore-based Golden Spa & Resorts, has also struck a co-branding tie-up with the Oberoi group for its Trident class of hotels.


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