Kolkata, Oct 31 The Ambuja Neotia Group will invest around Rs 3,000 crore over the next five to seven years on nine projects in West Bengal’s hospitality sector in partnership with the Indian Hotels Company Ltd (IHCL), officials said on Saturday.
The upcoming projects in the state are spread across Kolkata, Raichak, Digha, Siliguri, Lataguri, Kalimpong and Darjeeling, said Harshavardhan Neotia, Chairman, Ambuja Neotia Group.
Neotia, along with MD and CEO of IHCL, Puneet Chhatwal, on Saturday unveiled the AltAir House – IHCL SeleQtions – in Kolkata and Siliguri.
Ambuja Neotia and IHCL now operate 11 hospitality projects in the state, and the number would rise to 20 with the completion of the nine other facilities, Neotia said.
“West Bengal offers an extraordinary diversity of landscapes and cultural experiences, from its vibrant cities and riverfronts to its forests, tea gardens and the Himalayas. Our investment commitment of about Rs 2,700-3,000 crore reflects our confidence in the region’s tourism potential,” Neotia said.
The investment amount includes the two newly launched hotels and Rs 100 crore expansion of Taj Chia Kutir Resort & Spa, Darjeeling, with 28 keys and 15,000 square feet of banqueting facilities, he said.
The upcoming projects under their collaboration include the Taj Ananta Kutir & Taj Uvanta Signature Residences, Kolkata, with an inventory of 248 keys and 354 apartments, the Taj Himya Kutir & Taj Himya Branded Villas in Darjeeling’s Ghoom with 57 keys and 10 villas, and the Taj Terai Kutir, Siliguri, with 140 keys.
“IHCL and Ambuja Neotia are committed to advancing tourism, creating new travel experiences, and expanding the presence of IHCL’s brands across the region,” Chhatwal said.
Ambuja Neotia, and IHCL’s partnership consists of a portfolio of over 80 properties across India, including 55 resorts under Tree of Life, an experiential leisure brand, Chhatwal said.
Neotia said West Bengal has always been a focus area for the Kolkata-headquartered diversified corporate group, and that he had recently met Chief Minister Suvendu Adhikari to present a company vision about investments in the state.
“We will invest around Rs 15,000 crore in hospitality, healthcare and real estate over the next five to seven years. The Rs 2,700-3,000 crore investment commitment is part of this vision,” he said.
Chhatwal said the travel, tourism and hospitality sector is the highest multiplicator of jobs, creating a lot of indirect employment.
“So, we are not only developing infrastructure for the growth of tourism, but also creating a lot of employment and income stream for the state in various forms, whether it’s through services, income taxes or GST,” he added.
Asked about industry expectations from the new BJP government in the state, Neotia said he hoped that economic growth will get a fillip, with particular focus on infrastructure.
“There is a lot of optimism and enthusiasm. The industrial policy is also expected soon, and we are waiting to see what it brings. From the various consultations that we have had, it seems to be a very progressive policy,” he said.
(PTI News)
