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NEWS| Intercontinental Crowne Plaza hotel to come up in Ahmedabad

Savvy Infrastructure will invest around Rs 400 Crore in developing 'green' commercial and residential projects over the next two years.

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Currently, the company has plans to set up a commercial project worth Rs 300 Crore — Shapath V, on 20000 sq yards. It will be a mix of ownership and lease and will also house the Intercontinental Crowne Plaza hotel. The company is aiming for a LEED certification in gold by the Indian Green Building Council for Shapath V, which is located in the upcoming business area in Ahmedabad.

Savvy has begun construction on Solaris─a 400─flat 'green' residential complex in Ahmedabad entailing a cost of Rs 100 Crore. It is expected to be ready by 2011.

NEWS| Alex Resorts and Hotels to launch Golden Lakes at Devanahalli

Bengaluru─based Alex Resorts and Hotels plans to launch international standard project 'Golden Lakes' at Devanahalli in Bengaluru.

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The project will be located adjacent to a lake and forest and spreads across 69 acres. It will house a heritage resort with 40 cottages spread over 10 acres, a convention centre, various theme─based restaurants, apartment hotels, hotel management school, an ayurveda and naturopathy resort, various water sports and adventure sports. The approximate investment amount for the heritage resort is Rs 80 Crore.

Speaking exclusively with Hospitality Biz, S M Alex, Chairman & Managing Director, Alex Resorts and Hotels Pvt Ltd, says, “We have received requisite permission from the Karnataka government for the project and the ground breaking ceremony will happen in the next two months. The project will focus on inbound leisure and corporate travellers. We are looking for international and national players with relevant expertise in the above field.” The group owns 28 cottages resort 'Golden Waters' at Kumarakom in Kerala.