NEW DELHI : Resort chain Leisure Hotels Group, which has a portfolio of 29 properties spanning northern India, has partnered with IHCL-backed Ginger Hotels to launch a new hotel in Greater Noida. Ginger will operate the 72-room hotel while Leisure Hotels Group will continue to manage the outdoor banquet halls and lawns for bespoke events.
The hotel, which was already in operation, was relaunched as a Ginger Hotel with the brand’s luxury design and service philosophy of providing a dynamic, contemporary and seamless hospitality experience. Strategically located near Pari Chowk with convenient access to the shopping center and the next Jewar Airport, it also includes Café Etcetera, the all-day dining restaurant and two conference rooms.
This will be the fourth hotel that Leisure will sign with Indian Hotels Company Limited (IHCL). Their other hotels include the Taj Corbett Resort & Spa, Uttarakhand; Pilibhit House in Haridwar which is an IHCL SeleQtions and The Naini Retreat in Nainital (to be converted in 2023). Leisure Hotels also has properties in other locations in Uttarakhand, Himachal Pradesh, Goa and Uttar Pradesh. The group’s portfolio includes business hotels, resorts, villas and camps.
Vibhas Prasad, Director of Leisure Hotels, said: “We believe in offering a ‘right to asset’ model for our hotels and resorts, in which we continue to build on the existing synergistic relationship with IHCL to monetize our assets to realize their full potential.
Kapareva Development is also a partner in the operation. The company is an investment management company with hotel interests in Kerala, Uttar Pradesh and Uttarakhand and commercial property assets in Uttar Pradesh, and works with hotel operators to optimize the value of hotel assets and with property developers and tenants to unlock the value of its property portfolios. Its Director, Ashwani Kumar Gupta, said: “Our existing partnerships with Leisure Hotels have helped us achieve significant appreciation in the value of our hotel assets over the past decade. Greater Noida is a hub for major corporations, automotive and telecommunications companies in the country. Also, the hotel is about an hour’s drive from the next Jewar airport in Uttar Pradesh.”
Hotel company Hotelivate said in a report that in FY21, organized room supply in India increased by 3.3% from the previous fiscal year. India has about 144,000 branded rooms, including the 4,093 new rooms launched last year. The majority of this inventory came in major metropolitan areas, with 1% growth in FY21. Delhi topped the charts with 15,181 rooms, followed by Mumbai, including Navi Mumbai (14,330), and of Bengaluru with 13,901 rooms.
Never miss a story! Stay connected and informed with Mint. Download our app now!!