The campus, which is under development in Gurugram, will be ready by May 2018, in time for the first intake of students in August, 2018.
"The decision to foray in the education was due to true desire to give back to the society", Puri told PTI in a telephonic conversation.
ISH has raised around Rs 25 crore in its first round of funding from HNI investors, he added.
The institute has entered into a partnership with Lausanne Hospitality Consulting (LHC) for curriculum development and faculty training in preparation for an academic certification by Ecole htelire de Lausanne (EHL), ISH said in a statement.
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I believe that the competitive edge and battle for market share in the future will be fought as much over customers as over talent, he added.
Lausanne Hospitality Consulting (LHC) global CEO Yateendra Sinh said: "Our vision is to continue to share the Swiss and Lausanne hospitality education knowhow around the world. We are looking forward to working with and supporting the Indian School of Hospitality (ISH) in becoming a benchmark institution of higher education in the country."
On investing in the hospitality education business, Lemon Tree Hotels Chairman Patu Keswani said: "Indian School of Hospitality's offerings are well-timed with the rapidly increasing demand for talent solutions in our industry.
We are happy to invest in and support a team of professionals led by Dilip who are committed to bringing international standards of hospitality education to India.