Ansal Properties & Infrastructure (Ansal
API) along with Vipin Luthra-owned Ambience Hospitality Management has set up a
special purpose vehicle (SPV) to invest Rs.2,000 crore to set up 30 hotels in
the next 10 years.
Ansal API will hold 80 per cent equity
in the proposed SPV and the balance will be held by Ambience Hospitality
Management. The proposed SPV will set up hotels in the five-star and four-star
categories including palace hotels, golf resorts, business hotels, leisure
hotels, spas, clubs and serviced apartments.
The first hotel to be developed will
be be a palace hotel in Jodhpur and a golf resort in Lucknow.
Also See:
Ansal Properties
launches 'Sushant Taj City' at Agra (08-Jun-07)