The Park Hotels buys second hotel in Maharashtra

Chennai, February 19, 2008: Apeejay Surrendra Park Hotels Ltd., owners of The Park Hotels, have acquired 90, 000 sq ft land at Wakewadi, Pune at Shivaji Nagar to construct a five star deluxe luxury boutique property.

The new property is estimated to have 4, 00,000 sq ft built up area with 220 rooms, restaurants and entertainment facilities and will be ready for launch by 2010. The project cost is estimated at approximately Rs. 300 crores.

Priya Paul, Chairperson, Apeejay Surrendra Park Hotels Ltd. says, "I am delighted to announce this new acquisition in Pune, one of the fastest growing mini metros in the country. The property will add to our collection of contemporary luxury boutique hotels and will bear our unique trademark in design and innovation."

The Park Hotels is India's first collection of contemporary luxury boutique hotels with properties in Bangalore, Chennai, New Delhi, Kolkata, Navi Mumbai and Visakhapatnam. A 280 room hotel and retail development in Hyderabad is under construction and will open in 2009. Land has also been acquired in Jaipur for a five star deluxe property. The pioneers of the boutique hotel concept in India, The Park Hotels over 40 years of hoteliering experience are a part of the Apeejay Surrendra Group.

The Park in Bangalore, Chennai, New Delhi and Kolkata are a part of the design hotels ™. Design Hotels Inc. represents and markets its international collection of design-oriented city hotels and exceptional leisure resorts. Member hotels need to distinguish itself through innovative interior design and architecture, uncomplicated service, a sense for creative details and a distinct identity.

The Apeejay Surrendra Group was established in 1910 and currently employs more than 42,000 people. Its activities include shipping, tea, hospitality, real estate, retail and financial services.