"The cost of the project will be about Rs 150-200 crore. We are in the process of finalising a tie-up with Hyatt Regency," Chetan Sandesara, one of the promoters of the group told Business Standard.
The project will come up over 85,000 sq ft land. The hotel will house 200-225 rooms and will come up in posh Old Padra area of Vadodara. A part of the land for the project was under dispute and it took some time before the issue was settled. "We have got the required landbank," Sandesara said. Asked if they were planning to set up hotels across the country he said that as of now they are concentrating only on this single project.
The group is in talks with US super-chain World Gym to set up fitness centres in India. They have already signed a pact for Gujarat to set up around six gym-cum-fitness centres. Sandesara has also joined hands with health food delivery service provider Calorie Care and plans to launch a number of outlets along with its new venture Sterling Health Mall.
Sandesara group is also planning to foray into power. It aims to set up a 1,300 mw imported coal-based power project at in Bharuch district with a capacity of 4,000 mw. PTC India Ltd inked an MoU to buy 600 mw power.
