New Delhi, Jul 28 (UNI) The Uppal Group, country's leading real estate developer, today said it has inked an agreement with the US-based Marriott International to manage its forthcoming five-star hotel in Gurgaon, which will entail an investment of Rs 325 crore.
''Spread over 12.5 acres of land, the five-star hotel will be developed on NH-8, Gurgaon with Rs 325 crore investment,'' company Managing Director Manish Uppal told reporters here.
As part of the agreement, the Rs 800 crore Uppal Group will own and develop the '5-Star Luxury JW Marriott Hotel', while day-to-day operations will be managed by the leading hotel management and franchising company Marriott International.
Designed by Singapore-based SCDA, the proposed hotel, which will offer 210 super luxury rooms, is expected to be operational by September next year, Mr Uppal said.
He said the move is in line with the company's long-term plans to strengthen its foray in the hospitality sector.
President and Managing Director of International lodging for Marriott International Ed Fuller said, ''we are pleased to see our relationship with Uppal Hospitality Ltd, expand and to watch our hotels portfolio in India rapidly grow. We are confident that the JW Marriott Hotel will be a huge success.'' The Uppal Group had earlier signed up Marriott International for their upcomping five-star hotel in Chandigarh.
The project, which entails an investment of Rs 175 crore, will be completed by next year.
Since its debut into real estate business, The Uppal Group has developed around 10 million sq ft and currently more than 55 million sq ft of space in under development across verticals, including high-end, premium residential complexes, commercial plazas, luxurious hotels and IT and IT enabled facilities and special economic zones.
UNI MP SBA BD1510