The Indian Hotels Company (IHCL) has collaborated with Merlin Group to launch a new resort located near Joka on Diamond Harbour Road in Kolkata.
IBIZA, a part of IHCL SeleQtions, will feature 130 rooms, including eight suites, set across 11 acres in Kriparampur, a sought-after tourist spot. Additionally, the property will offer a 5,400 sq. ft. ballroom, conference halls, pre-function spaces, meeting rooms, and picturesque outdoor venues.
“The current resort will undergo renovation and expansion under a new brand, with an anticipated opening in October 2025. A total investment of INR 60 crore will be allocated for this expansion,” stated Sushil Mohta, Chairman of Merlin Group, suggesting that the company might explore further opportunities with IHCL.
With the addition of this resort, IHCL will have seven hotels in Kolkata under various brands like Taj, SeleQtions, Vivanta, and Ginger, with two more currently in development.
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“This agreement marks another stride for IHCL in broadening its presence in Kolkata, a bustling state capital. It will cater to the demand for nearby getaway destinations from the city, capturing the growing interest in both leisure and MICE,” commented Suma Venkatesh, Executive Vice President – Real Estate & Development at IHCL.
Kolkata, the capital of West Bengal, stands as a significant commercial hub for East India. Recognized as an artistic and cultural epicenter, the city has attracted numerous luxury hotel brands to establish their properties.
As per JLL, the hotel industry has experienced a remarkable upswing since the previous calendar year (2023). In 2023, a record-breaking number of hotel signings and openings occurred, with 25,176 keys signed and 12,647 keys launched. Notably, there is a growing interest in hotel development activities in Tier-2 cities, accounting for 54% of the total signings in these areas.
Although management contracts remain prevalent, constituting 78% of the total number of keys signed, there has been a significant rise in lease and revenue share models across various tiers, encompassing 4% of the total keys signed.
“The strong performance of the commercial sector has directly impacted major urban areas, with Tier 1 cities witnessing the highest number of keys signed since 2020, marking a significant increase of 31% compared to 2022,” the report stated.
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