The Vatika group's subsidiary, Vatika Hospitality Pvt Ltd, will announce two new Westin hotels in the country -- The Westin Sohna Resort and The Westin Bangalore.
The group had earlier announced its first Starwood Hotels & Resorts Worldwide's brand, Westin, in Gurgaon.
While Vatika will own the hotels, the management will be with Westin for which the latter will receive a gross percentage of revenues.
Vatika Group Executive Director Gaurav Bhalla said the company had approximately 3,000-acre land in Sohna. Of this 33 acre is being used to develop the resort. The Vatika Garden Retreat at this site is being converted 'from scratch' to the Westin.
Bhalla said he had invested Rs 100 crore (Rs 1 billion) for the hotel, which would be operational by December this year. The investment was made through company accruals and "negligible bank loans around Rs 2 to 3 crore (Rs 20 to 30 million)".
The hotel will comprise 117 hotel rooms, residential villas, meeting and convention centre, a health and spa centre, three dining outlets, a clubhouse and an 18-hole professional golf course.
For the Bangalore hotel, which is scheduled to be operational by 2009, Bhalla said Vatika would invest around Rs 250 crore excluding the cost of the land.
Without disclosing the price of the land, he said it would be purchased with the company's money. Also, it will raise 60-70 per cent of the cost from bank loans for the construction.
Located in Hebbal, The Westin Bangalore will provide travelers with easy access to the new international airport and the emerging central business district in north Bangalore.
It will comprise 326 rooms, five dining outlets, retail outlets and a convention centre.
Vatika will shortly be signing for another Westin in Jaipur. With the signing of The Westin Bangalore and The Westin Sohna Resort. Starwood now has 21 hotels and resorts in operation and under development in the country under its Westin, Sheraton, and Le Meridien brands.
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