Oberoi Hotels and Resorts, the flagship hotel brand of the Rs 4,000-crore East India Hotels (EIH), said it has got the approval from the Madhya Pradesh government for converting the 150 year-old Rajgarh palace into a luxury hotel.
The palace was declared as a protected monument in the 1980s by the state archeological department. The monument was recently denotified before it was handed over to the luxury chain operator.
EIH said it has obtained a long lease licence in addition to all the necessary permission from the government for the project.
The Rajgarh palace, built by Maharaja Hinu Pat Shah of the Bundela dynasty, is situated on the slopes of the Managad hills near Chandranagar village Madhya Pradesh's Chhatarpur district. The palace is about 25 km from the famous town of Khajuraho.
Known for its huge rooms and elaborate paintings of exotic birds, the palace, on 60 acres, also has its own private lake.
In an email reply, the spokesperson for the Oberoi group stated that the property will be developed on the lines of the company's other properties, including The Oberoi Udaivilas in Udaipur, Rajvilas in Jaipur, Vanyavilas in Rajasthan and Amarvilas in Agra.
Financial details as well as the timeframe required by the company for the property's development are currently on the drawing board and are yet to be carved out, the spokesperson said.
Room tariff's for such palaces are more than double than one for normal luxury rooms, industry experts said. For instance, the minimum room tariff rate at the Oberoi Udaivilas for a premier room is at Rs 30,500, while for a Kohinoor Suite with a private pool in the same property is available for Rs 240,000 per night per person.
The company plans to open ten new hotels in the span of three years in the domestic as well as international market. It is targeting to add 2,300 rooms in India and overseas in the process.
The list of newer properties will also include a business hotel located in Mumbai's upcoming largest commercial and financial business district of Bandra Kurla Complex.
Although the company had earlier slated the launch date of the 436-room hotel in Mumbai for January 15, it was postponed due to unspecified reasons.
The spokesperson said, "The project is progressing well and the hotel will open early in the new year".
The hotel can accommodate up to 450 people with recreational facilities that include an outdoor swimming pool, a well-equipped fitness centre and a spa with 8 therapy rooms besides several dining options.
