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India’s leading Real Estate Company Omaxe Limited and one of world’s largest hotel companies The Intercontinental Hotel Group (IHG) together bring to the city of New Chandigarh (formerly Mullanpur), a five star hotel “Holiday Inn”. In an exclusive tie-up for a hotel in Omaxe’s integrated township Omaxe New Chandigarh, the company will undertake the construction of the 150-room hotel which will be managed by IHG.
The coming up of Holiday Inn is a step forward towards creation of a commercial hub in Omaxe New Chandigarh that will house two architecturally superb office and retail spaces – International Trade Tower and India Trade Tower, alongside the hotel. Landscaped greens, beautiful gardens and water bodies and wide roads to maneuver along are some of the ideal setup envisaged in the commercial hub.
Omaxe will invest close to Rs 200 crores in building this luxurious Hotel that will cater to corporates and the local elite, including tourists. The office and retail spaces in the vicinity have been attracting reputed companies from sectors like IT, BFSI, Retail etc in the national and international arena.
Holiday Inn has been one of the most reassuring choice for business and leisure travellers across the Globe. With over 2 lakh rooms, it is the only hotel brand that has been named the Best Mid-Market Hotel Brand in “Asia Pacific” and “Worldwide” by Business Traveller magazine for 8 years in a row.
Omaxe New Chandigarh, spread across approx. 700 acres, is an integrated township in New Chandigarh. With offerings like plots, independent floors, villas, proposed group housing, office and retail spaces, hotels etc.; the township with its greenery, clean environment and proposed creation of schools, colleges, hospitals etc will emerge as a world-class city. New Chandigarh in itself is emerging as a hot-spot destination with Medicity, Education city, Metro Rail, Cricket Stadium etc proposed in New Chandigarh, and in the vicinity of the township.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.