BackAiana Hotels in pact with Ferns Estate to operate 4 resorts in Karnataka
Expected to open in 2019, the first resort is spread across 45 acres of coffee plantation at Sakleshpur district in Karnataka
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Mumbai: Aiana Hotels & Resorts Llc has signed a pact with Bengaluru-based real estate firm Ferns Estate & Developers to manage and operate four resorts in Karnataka.
Aiana Hotels is a hotel venture of Amruda Nair, granddaughter of Leela Hotels founder Krishnan Nair. The company was formed earlier this year after a joint venture between Nair and Sheikh Faisal Bin Qassim Al Thani, chairman of Qatar-based Al Sawari Holding and Al Faisal Holding.
Expected to open in 2019, the first resort is spread across 45 acres of coffee plantation at Sakleshpur district, which is around 3 hours from Bengaluru. The resort will have 100 villas in the first phase, the company said in a statement.
The resorts will be operated under fractional ownership, where buyers and investors can own a portion of the assets. Owners get an opportunity to use their fraction as a holiday home or earn revenue out of their share of ownership.
“We are pleased to announce our association with Ferns Estates & Developers. We believe there is immense potential in destinations that are driving distance from key cities and are looking forward to expanding our presence in South India with this partnership," Nair said.
Ferns Estate has developed gated communities, residential apartments and commercial office space in Bengaluru.
“This is the first time we are introducing a hybrid business model and believe that Sakleshpur is the perfect destination to announce our first resort," said Errol Fernandes, chairman and managing director, The Ferns Group.
Aiana is also gearing up to open its first property in India, Aiana Munnar, a villa resort in Kerala, in 2016. Nair has earlier said that she plans to introduce the concept of fractional ownership in its Munnar property as it provides an easy access to funds.
The company plans to manage around seven properties in the Middle East and the southern part of India in the next five years. In its second phase, it plans to enter north India and other south east Asian countries.
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