Polo Hotels Ltd Company Summary

Polo Hotels Ltd Summary

Polo Hotels Limited, formerly incorporated in January, 1989 as Polo Estates Hotels and Investments Pvt Ltd, was converted into a Public Limited Company in July, 1994 after which it acquired the present name. The Company engaged in the business of setting up and running hotels and restaurants. The Company was promoted by Vikas Paul Garg, V K Garg and associates. It set up a Three Star Resort in Sector 32 and made it operational in 1994. The Company came out with a public issue in Oct.94 to set up North Park, a three star resort hotel, at Panchkula, Haryana, with 43 rooms, restaurant, banquet hall, coffee shop, shopping arcade and recreational/health facilities. In Jun.94, Polo Hotels entered into an international and domestic franchise marketing and management support services agreement with Quality Inns India Pvt Ltd (QIIPL). In 1998, the Company was taken over by Shri A.R. Dahiya, Amardeep Singh Dahiya and Associates. After that, many new projects have been proposed by its ambitious directors. Some of them are under construction, under approval or under design stage.Apart from this, the company is having a total of 16 acres of land in Sector 32 of Panchkula. The present resort, North Park, is running on 4 acres. Two brands namely Radisson and Holiday Inn have approved and are keen on managing and branding the hotel. Also the company is about to receive the permission for setting up a hospital in 3.2 acres of land. The balance land should be utilized for IT and Commercial offices, given the excellent locations this shall become commercial hub in itself.