Parsvnath Hotels Ltd. a subsidiary of Parsvnath Developers Limited (PDL), India’s leading real estate and infrastructure company, has received 5 star category approval from Ministry of Tourism for hotel project at Patto Plaza, Panaji . The construction of the hotel is undertaken by Parsvnath Hotels Limited and the hotel is expected to be operational by end of 2010.
The project is being developed on total land area of approx. 3150.20 sq. meters. The hotel offering 125 rooms and suites is a judicial blend of hotel and commercial section offering coffee shop, multi cuisine and specialty restaurants, a bar and a few shops coupled with all amenities. Strategically located in the hub of the business district in Goa, the proposed hotel complex is in close proximity of City Centre in Panaji and is just 35 kms from Dabolim Airport in south Goa and mere 18 kms from the Karmali Railway station in central Goa there by ensuring easy access through all means.
Speaking at the occasion, Parsvnath Hotels Limited, Mr. Deepak Mowar, Vice President Hotels said “Goa which is renowned for its beaches, places of worship and world heritage architecture is now also emerging as a convention centre. What was much needed in the destination attracting hundreds of thousands of international and domestic visitors each year was a place that addresses the leisure as well as business needs of the tourists. Situated in the heart of Panaji amidst posh Commercial area, this project offers best business opportunity in the area”.
The hotel project located near NH17, built amidst south Goa and North Goa will overlook a quiet natural creek (Rua-de-Qurem) on its left side. Surrounded amongst Goa’s prominent landmarks like Goa State Museum, Passport Bhawan and an upcoming central library, the hotel project would be the only 5 star hotel in the area.
About Parsvnath Hotel Limited:
Parsvnath Hotels Limited is also developing 17 hotels with a saleable area of 2.27 million sq ft., which include nine 5-star, two 4-star, five 3-star and a serviced apartment at Bhiwadi. These hotels offer 3-star to 5-star facilities with Décor & ambience with delicacies of luxury to revolve around and is aimed at providing a total of 2,396 rooms which will cater to the huge demand for hotel rooms in the country. The construction is already in full swing of 6 hotel properties and is expected to be complete by 2010.
Establishing its mark by venturing into hospitality Parsvnath Hotels Ltd (PHL) announced its JV with Fortune Park Hotels Ltd (FPHL), a wholly owned subsidiary of ITC Ltd, to manage 50 Hotels across the country in next three to five years and also with Royal Orchid Hotels Limited (ROHL) to manage 10 hotel properties
About Parsvnath Developers Limited:
Parsvnath Developers is noted for its rapid pan India spread. It is the fastest growing real estate group in India. Parsvnath Developers is amongst the largest listed real estate companies in India. As of today, company is developing 114 mega projects spanning 211.32 million square feet in 51 cities and 18 states. For the year ended March 31, 2008, Parsvnath Developers Ltd. recorded consolidated revenues of Rs 1837.12 crore and net profit of Rs 424.39 crore. For more details please visit www.parsvnath.com
