Global hospitality chain Carlson today announced plans to open its luxury brand Regent in India with the opening of a hotel in Gurgaon in 2013.
The Carlson has tied up with real estate major Pioneer Urban Land and Infrastructure (PUIL), which would be investing Rs 230 crore, for building the hotel while the US-based hospitality group would operate it.
"The Regent brand has strong historical roots in Asia. This is the first Regent brand in India. The Regent Gurgaon will have 160 rooms and the project will be completed in three years from now," said Hubert Joly, president and CEO, Carlson.
Carlson was here to sign a Memorandum of Agreement (MoU) with Gurgaon-based PUIL.
About the funding, PUIL Chairman and Managing Director Manish Periwal said the investment would be funded in the debt-equity ratio of 1:1 and most of the equity portion would come from internal accruals.
For the debt portion, the company is in talks with various banks and financial institutions.
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Carlson Hotel Worldwide is a leading global hotel company with more than 1,060 locations and has presence in 77 countries.
Its brands include Regent Hotels, Radisson Hotels and Resorts, Park Plaza, Country Inns and Suites and Park Inn.
In India, the group has a presence in most of the brands but in the luxury Regent brand, this is the first property Carlson would be operating.