As the luxury in hospitality sector is being redefined as affordable luxury, the new players are setting their foot with ambitious plans to create a niche for themselves.
Chandigarh-based Alchemist group is all set to foray into hospitality sector under the brand name of ‘Uber’ luxury hotel and brand.
The company has under its fold an eight-acre property on the banks of the Sutlej in district Roopnagar of Punjab that would be the maiden venture for the five-star luxury project of the Alchemist group.
The company has earmarked a corpus of Rs 500 crore to put up three properties under the brand Uber and invest in similar projects in the next three years. Apart from the one at Roopnagar, the other would be upgradation of Kufri Resort (in an area of about 3.5 acres) and one in Chandigarh Industrial Area.
The Roopnagar project would be a refurbishment of the Punjab Tourism’s Pincassia Complex that has been put on lease for 65 years by the Punjab government to the Alchemist group in a competitive bidding done in 2009.
According to Kushagra Nagrath, COO of Alchemist Hospitality Group, the company has set a roadmap for three years and is also focused on the expansion of its multi-cuisine restaurant business.
With seven multicuisine restaurants, scattered in NCR Delhi and Chandigarh, the company plans to consolidate its position by expanding in new locations like Bangalore, Hyderabad and Kolkata.
