| The complex would be developed in Rudrapur. The 5-star hotel would comprise 120 rooms, while mall will have a built up area of 160,000 square feet. |
| The hotel-cum-shopping complex is a part of the 47-acre township to be developed by Assotech and Supertech through a 50:50 joint venture. The project will be completed in 24 months. |
| "This is our first hospitality project. Rudrapur has no 5-star hotel and with Rs 30,000 crore having already been invested by many industries in the region, hotel is definitely a must in that place," Assotech Managing Director Sanjeev Srivastava said. |
| He said the investment for the entire complex, spread over 4.7 acre, would be Rs 150 crore, which will be funded through debt and internal accruals. "We have already tied up with financial institutions for debt of more than Rs 100 crore," he added. |
| "Kumaon region doesn't have a star hotel yet. This will be the first of its kind here, where we will provide facilities of international standards," Carlson Executive Vice- President (South Asia) K B Kachru said. |
| On room rentals, Kachru said: "The rates are market driven. We would be the best value for money in that region. We are looking at $100 mark." |
| Srivastva said that with expectation of average occupancy of 60-70 per cent, the hotel project was likely to break-even in five years. |
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