IHHR plans expansion in Punjab

The company has decided to invest about Rs 125 crore, on 2.5 acres in Amritsar.

IHHR Hospitality Pvt Ltd, a player in the premium hospitality sector, is eyeing Punjab for business expansion.

The company has decided to invest about Rs 125 crore to put up a 250-room leisure hotel-cum-spa on an area of 2.5 acres in Amritsar.

Ashok Khanna, managing director, said the project was under execution and was expected to be completed by early 2009.

The property, Ista Amritsar, would have a Chinese restaurant, interactive old-day dining, large banquet facilities with a lawn and a multiplex adjacent to the hotel.

Khanna apprised that Chandigarh was on their radar and they were scouting for an ideal location. He added that though unrealistic prices of land in Chandigarh was deferring the project but it was very much on the cards.

"It would be a luxury hotel of about 150 rooms with a capital outlay of Rs 100-150 crore."

He said a correction of 30-40 per cent was necessary to make the project viable in Chandigarh.

The company recently opened Ista Hydreabad spread on an area of 16 acres, catering specifically to the needs of business visitors, besides leisure tourists.

The company has plans to expand in Pune, Coimbatore, Jaipur, Nagpur, Ahmedabad and Puri.

The company recorded a turnover of Rs 60 crore last year and expects to notch a turnover of Rs 100 crore this year.

Founded in 1998, IHHR Hospitality Private Ltd owns and manages destination spas, luxury spa resorts and business hotels. Ananda, India's premier destination spa, is the company's flagship property.