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Convention Hotels India (CHI), an ownership investment platform setup for hospitality projects, will open its first hotel at Calangute in north Goa next year. It is developing four more hotels that will open within the next two years. The company has tied up with international hotel chains to manage their properties.
Priyakant Amin, director, CHI, said: “The main agenda for CHI is to identify good locations that are demographically growing, both in terms of a younger age bracket as well as from an industry prospective. We don’t have big plans like building 10-to-50 hotels in the next five-ten years. We want to be geographically diversified and have enough brands that can give us demographic diversity.”
Its first property at Calangute is going to be a Holiday Inn with 136-rooms which will open in the first quarter of 2011. Next in line is a 260-room Hyatt Place in Bengaluru, slated to open in the first quarter of 2012.
In the second quarter of 2012, CHI will open two hotels - a 200-room Holiday Inn with casino in Panaji, Goa, and one Hilton Garden in Coimbatore which will have 200-rooms.
The construction for both these projects will start in September this year. The fifth one is going to be a wildlife resort in Mysore for which the partner has not been finalised yet.
The company has an investment commitment of about Rs440 crore for these five projects. “In addition to that, we will spend another Rs400 crore for new projects so we are expecting to have a total capital expenditure of about Rs800 crore in the next two years,” Amin added.
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I am a Civil Engineer (BE, Civil) with more than 10 years in the construction industry. I am based in North Goa. I am lo