Asian Hotels (Hyatt Group), HDIL Leisure, Emaar MGF, Omaxe Ltd, and Chalet Hotels Ltd are among the six players that have shown expression of interest and qualified for setting up a Five-Star Hotel & International Convention Centre at Mohali, under a public private partnership (PPP) model, on a design-build-operate-transfer (DBOT) basis. The proposed project is likely to attract an investment of Rs 350-400 crore. The financial bid for the project is expected to be invited within two months.
Earlier, the Punjab government had invited expression of interest from International Five-Star Hotel Chain or entities having collaboration with International Five-Star Chain, for setting up the Five-Star Hotel and International Convention Centre at Mohali (Punjab) on DBOT basis. In response to the advertisement, 8 players had shown interest and out of them,six were declared qualified for further process. For this project, the cleared qualified EoIs, which the PIDB has received are Asian Hotels (Hyatt Hotels), Emaar MGF Land , Omaxe Ltd, Chalet Hotels (K Raheja Group), Unity Infrastructure Projects Ltd and HDIL Leisure.
The land would be provided on a long-term lease basis to the developer. The site will be developed in the PPP mode, through the Punjab Infrastructure Development Board (PIDB). The IL & FS Infrastructure Development Corporation (IL & FS IDC) is the project development advisor to the Punjab government.
The 16-acre site is hardly 5 km from the Chandigarh City Centre, Sector 17. The site plans have been finalised by Jurong Ltd, the Singapore-based consultants of GMADA (Greater Mohali Development Authority). The private player will be also be given the freedom to design the venture within the framework laid down by GMADA.
A five-star hotel site in Mohali is an attractive proposition for an investor, specially in view of the upcoming international airport at Mohali, and due to the PCA stadium, which is one of the best international cricket stadium.