Vishnupriya Hotels Limited (VHL), which is setting up a five-star hotel at Visakhapatnam, has tied up with US-based JHM Interstate to operate the hotel.
“Our Vizag hotel will be named as ‘4-points Sheraton Hotel, as VHL has an understanding with Sheraton hotels to use its brand name,” K Sarat Kumar Reddy, managing director, VHL, said.
VHL has spent Rs 70 crore (excluding land cost) on the 122-room hotel, which is coming up on nearly 2 acres. Of the total investment, the State Bank of India has provided Rs 37 crore as loans while the remaining has come from promoters, he said. It will have 2 presidential suites, 6 suites, 36 executive rooms, 78 standard rooms and a conference hall among others.
The hotel will be inaugurated in January 2010, Reddy said, adding 4-points Sheraton would be the third five-star hotel in the city after Park and Grand Bay.
