Omaxe to invest `200 crore to build luxury hotel1 min read . Updated: 03 Jul 2013, 01:12 PM IST
The 150-room Holiday Inn will be managed by the Intercontinental Hotel Group
Mumbai: BSE-listed real estate company Omaxe Ltd announced on Wednesday that it is investing ₹ 200 crore to build a five-star hotel in the company’s integrated township Omaxe New Chandigarh.
The 150-room Holiday Inn will be managed by one of the world’s largest hotel companies, the Intercontinental Hotel Group (IHG). Omaxe New Chandigarh, spread across 700 acres, is coming up in New Chandigarh, formerly known as Mullanpur.
The company is currently undertaking 41 real estate projects—13 group housing, 19 townships, nine commercial malls and hotels. It has a presence in Uttar Pradesh, Madhya Pradesh, Punjab, Haryana, Uttarakhand, Rajasthan, Delhi and Himachal Pradesh.
Shares of the company were trading at ₹ 144.40, down 0.69% at 12:20 pm, while the benchmark Sensex was at 19,170.37, down 1.51%.