MAX India chairman Analjit Singh has joined hands with PRS Oberoi group flagship EIH Ltd to set up a 100-bed, 5-star hotel in Dehradun under the Trident brand, triggering talks that the billionaire businessman has larger plans for the hospitality sector.
The property will be owned by Mr Singh while the Oberoi group will manage it, two people familiar with the development said.
Two industry observers, who asked not to be named, saw the collaboration as a sign of Mr Singh’s larger interest in EIH and diversification into the hospitality sector. The Max group chairman had a 4.37% stake in EIH as of June-end this year, up from 2.17% at the end of March, according to disclosures made to BSE.
Fortune Park Hotels Ltd has announced the signing of an agreement with M/s Zanders Resorts, for its 55th hotel in Bhatinda, Punjab. The green-field project is expected to be completed by mid-2011 and will be part of the chain’s Fortune Inn category of hotels. There are already five Fortune Inns operating in Jammu, Pune, Visakhapatnam, Noida and Manipal.
The upcoming project at Bhatinda will have 60 rooms, built in accordance with the chain’s specifications for the Fortune Inn category. In addition to spacious rooms and a coffee shop, the hotel will have banqueting facilities and is scheduled to be completed by mid 2011.
The French hotel chain Accor with 5 hotels already under its belt, has announced massive further growth of its hotel network for India, with plans to open an additional Ibis later this year in Pune and seven in 2010, followed by 18 hotels in 2011 and 19 by 2012.