Parsvnath Hotels Limited (PHL) a subsidiary of Parsvnath Developers Limited (PDL), India’s leading real estate and infrastructure company has undertaken construction of hotel at Vejalpur, Ahmedabad, India’s most happening city. The Project has received 5 star category approval from Ministry of Tourism and is expected to be operational by end of 2010.
With an offering of 152 rooms and suites this hotel will be a judicious blend of hotel and commercial segment offering 24 hrs coffee shop, multi cuisine and specialty restaurants, conference rooms, business centre and a few boutique stores. The hotel project apart from all amenities of a five star property also offers a shopping mall and multiplexes. Strategically located on the 100 foot road, the property is situated in close proximity to retail and commercial spaces being developed on the SG Highway. The project is built at just 14 kms away from the airport and a mere 9 kms away from the railway station.
Speaking on the occasion, Parsvnath Hotels Limited, Mr. Deepak Mowar, Vice President Hotels said “Ahmedabad the leading industrial centre in Gujarat and home to several interesting museums, cultural monuments and esteemed educational institutes, universities coupled with the traditions of Gujarat have resulted in influx of floating population in Ahmedabad. This increase has lead to burgeoning demand for qualitative place which addresses the leisure as well as business activities of the visitors. Our project in Ahmedabad tries to fill this gap by providing all the amenities under one roof.”
“Moreover, considering the investor friendly environment of Gujarat, leading companies have been showing their interests in establishing their manufacturing units there, take Tata for instance. This will further enhance the demand for our project as being in the heart of the city it would be the most easily accessible five star hotel.” He added.
Currently, Parsvnath’s ongoing project in Ahmedabad includes two retail projects Parsvnath City Centre and Parsvnath Mall.
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
