Nirmal Lifestyle plans 2 star hotels in Mulund

City-based real estate major Nirmal Lifestyle is planning two big-budget hotels of international star category, within its upcoming shopping mall phase II project at Mulund (in Mumbai).

The hospitality venture, planned with an investment of over Rs 600 crore, will build two hotels with room capacity of 200 and 250.

This multiple star hotel project attached with a shopping mall is being planned for the first time in India.

The company is currently in talks with a few international hotel brands, including Intercontinental's Crown Plaza and Radizon, to run the hotels.

"We are in talks with foreign hotel brands for managing the hotels. In a month, we hope to finalise something on this," said Chairman Dharmesh Jain.

Nirmal Lifestyle's shopping mall phase II is coming up over a 3 million sq ft area adjacent to its existing shopping mall at Mulund. The two hotel properties will be constructed on the fourth and fifth floors.

The five-floor mall having a floor space of 3 million sq ft is expected to be ready for operations by early 2007, said Nirmal Lifestyle sources.

"Our plan is to develop two floors into two international hotels of over 200 rooms capacity each. The property would be owned by Nirmal Lifestyles and managed by international hotel groups," the sources said.

Nirmal's new shopping mall is being planned at an estimated investment of Rs 1,000 crore. The hospitality and real estate sectors are witnessing a boom in India.

According to industry analysts, foreign hospitality groups across India are in similar talks with real estate groups, especially developers of shopping malls.

"Such a partnership is a win-win situation for developers and managers. The developer does not have to hunt for an additional space for the hotel and the management company has a better chance to attract more customers," said a city-based hospitality consultant.