Brigade signs contract with IHG for managing hotels
Real estate firm Brigade Enterprises on Monday said it has signed a management contract with UK-based InterContinental Hotels Group (IHG).
By PTI |
MUMBAI: Real estate firm Brigade Enterprises on Monday said it has signed a management contract with UK-based InterContinental Hotels Group (IHG).
Brigade Enterprises' (BEL) wholly-owned subsidiary, Brigade Hospitality Services Pvt Ltd has signed a contract with IHG, which would manage the new Holiday Inn hotel of BEL, the company informed the Bombay Stock Exchange.
The new 250-room hotel, Holiday Inn Bangalore International Airport, would be developed by BEL near the Devanahalli International Airport at Bangalore and would be made operational by 2010, it added.
"We are glad to have partnered with Intercontinental Hotel Group to develop this hotel in the city of Bangalore. Holiday Inn Bangalore International Airport hotel will be a welcome addition to Brigade Hospitality's portfolio that include hotels, resorts, clubs and serviced residences," Brigade CMD M R Jaishankar said.
The contract is in line with IHG's expansion plans in India. Earlier this year, IHG had signed six contracts with different real estate developers, including the Poonawala Group, KGA Group, Vascon Engineers and Indroyal Group for managing hotels.
IHG currently manages 14 hotels in India comprising 2,369 rooms across three brands -- InterContinental Hotels and Resorts, Holiday Inn and Crown Plaza.
Brigade Enterprises' (BEL) wholly-owned subsidiary, Brigade Hospitality Services Pvt Ltd has signed a contract with IHG, which would manage the new Holiday Inn hotel of BEL, the company informed the Bombay Stock Exchange.
The new 250-room hotel, Holiday Inn Bangalore International Airport, would be developed by BEL near the Devanahalli International Airport at Bangalore and would be made operational by 2010, it added.
"We are glad to have partnered with Intercontinental Hotel Group to develop this hotel in the city of Bangalore. Holiday Inn Bangalore International Airport hotel will be a welcome addition to Brigade Hospitality's portfolio that include hotels, resorts, clubs and serviced residences," Brigade CMD M R Jaishankar said.
The contract is in line with IHG's expansion plans in India. Earlier this year, IHG had signed six contracts with different real estate developers, including the Poonawala Group, KGA Group, Vascon Engineers and Indroyal Group for managing hotels.
IHG currently manages 14 hotels in India comprising 2,369 rooms across three brands -- InterContinental Hotels and Resorts, Holiday Inn and Crown Plaza.
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