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,” Carlson President and CEO Hubert Joly said. Carlson was here to sign a memorandum of agreement with Gurgaon-based PUIL.
About the funding, PUIL CMD 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.
