The Hindu Business Line : Shristi in tie-up with Westin for 5-star hotel

Shristi Infrastructure Development Corporation India Ltd has entered into a management tie-up with Westin Hotels & Resorts, a chain of hotels owned by the US-based Starwood Hotels & Resorts Worldwide, to run its upcoming five-star hotel at Rajarhat.

The 330-room hotel, to be named after the Westin brand, will be set up by Shristi at an estimated investment of Rs 800 crore, Mr Sujit Kanoria, its Manging Director, told media persons at a press conference here on Tuesday. The foreign partner will not have any equity participation in the project.

“Construction on the 8-acre land has already started and we hope to launch the hotel in the beginning of 2012,” he said. The hotel, located near the Kolkata airport, will cater to both business and leisure travellers, he added.

The 1 million sq ft hotel will also have helipad facility and a modern escape elevator security system built on Israeli technology, in which the guests will have an escape route in every floor in case of an emergency situation, he said.

Investment plans

Mr Rahul Varma, Chief Opretaing Officer, said that the company has lined up Rs 2,500 crore investment plans for the next five years.

Some of its upcoming projects include an integrated township in Asansol, a logistics hub in Ranigunj, an international sports city in Haldia, premium villas in Shantiniketan, a residential-cum-commercial project in Krishnanagar and an industrial park in Jalpaiguri.

The company has invested Rs 1000 crore in different projects in the last five years, he said.

The market capitalisation of the company is Rs 1000 crore, he added.

More Stories on : Alliances & Joint Ventures | Hotels | West Bengal

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