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New Delhi January 2nd,2013:
Kolkata will have its first Westin property, a brand from US hospitality conglomerate Starwood Hotels & Resorts Worldwide, by mid 2015.

Westin, the upmarket branded hotel brand, will manage the upcoming Rs 600-crore property on an eight-acre plot in the satellite township of New Town, on the eastern fringes of the city.

Sujit Kanoria-run Shristi Infrastructure Development Corporation Ltd is developing the 330-key hotel, which Westin will manage under a 15-year contract.

“Construction work has been complete. Interiors work is going on. The hotel will be operational by the end of 2014 or mid 2015,” Sujit Kanoria, Managing Director, Shristi Infrastructure, told Business Line.

Apart from guest rooms, the hotel will also have service apartments. It will also have an adjoining commercial and retail space, he said.

“We have chosen Westin as our partner because of the chain’s strong (referral) booking system and its brand value,” Kanoria said. The project is likely to break even in another 5 years.

Kolkata-based Shristi, listed on the BSE, is into real estate (commercial and residential) and hospitality. It reported a total income of around Rs 52 crore during the first six months of this fiscal.

The company, meanwhile, is investing over Rs 300 crore to set up two new hotels - one in Udaipur, Rajasthan and another in Puducherry. Both would be star properties, with Puducherry being a mix of three-star and five-star facilities.

According to Kanoria, work on a 300-room hotel in Udaipur has already begun. Built at an estimated cost of nearly Rs 300 crore, the hotel is expected to be operational by 2016.

Srishti on its part was looking to tie up with another hotel chain for management contract of the property.

“We are still in discussions with some of international brands for management of the Udaipur property,” Kanoria said.Business Line

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