Hospitality majors line up for 5-star hotel in Hyd

 Parties that are pre-qualified for the Rs 200-crore project include Taj-GVK Hotels, Royal Meridian Hotels, ITC Hotels, Oberoi Hotels, Raheja group, Gati Corporation, Progressive Constructions, Surana group and Malaysia-based leading property developer IOI.

 The last date for sumbission of Request for Qualification (RfQ) by the pre-qualified bidders is October 24.

 Parties qualified on the basis of RfQs will have to submit the final price bid which forms the basis for the selection of successful bidder.

 Conceived by the state tourism department, the project envisages setting up of a 250-room 5-star deluxe hotel and 1.50 lakh sft of commercial space on long-term basis. The total built-up area of the project is estimated to be approximately 5.25 lakh sft.

 The successful bidder has to pay annual lease rentals at the rate of 5 per cent of the market value of the land, besides revenue sharing with the state government.

 The state government expects the project to be successful in view of the locational advantage. The state tourism departmenrt has accorded fast-track tourism infrastructure status to the project.

 The state tourism department is the nodal agency for the project, while Delhi-based PKF Consultants is acting as advisor.