TajGVK to build 275-room five-star in Mumbai

NEW DELHI: Taj GVK Hotels & Resorts and Greenridge Hotels & Resorts, which is a GVK company are setting up a 275-room five-star deluxe hotel in Mumbai, the company said in a filing with the Bombay Stock Exchange.

The project being executed through a special purpose vehicle Green Woods Palaces and Resorts will be developed in Santacruz near Terminal 1C of the Mumbai International Airport, under the Taj brand. Taj GVK will invest around Rs 110.25 crore in the hotel project.

The board of directors of the company had approved this investment at its meeting held on November 02, 2011 subject to the completion of due diligence. The due diligence has been completed now. The hotel project is expected to be commercially operational by mid 2014.