Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
A prominent hotel property in Bhopal the MPT Lake View Residency Hotel on Shyamla Hills overlooking the Upper Lake is set to be demolished and redeveloped into a modern five-star hotel with a convention centre under a public-private partnership (PPP) model. The Madhya Pradesh Tourism (MPT) Corporation has awarded redevelopment rights to a consortium led by Genex Hotels Pvt Ltd, Dilip Buildcon Ltd and Indian Hotels Company Ltd (IHCL), which will form a special purpose vehicle to design, build, finance and operate the new facility over a long-term concession. Plans include a luxury hotel with approximately 150 rooms and extensive event space aimed at boosting Bhopal's tourism appeal and positioning the city as a meetings, incentives, conferences and exhibitions (MICE) destination. The project is expected to be completed within about three years.
The iconic MPT Lake View Residency Hotel in Bhopal, which has operated on Shyamla Hills overlooking the Upper Lake for decades, is slated for demolition and redevelopment as a new five-star hotel with convention and event facilities under a public-private partnership (PPP) model, officials said earlier this week. Advertisement
The redevelopment rights have been awarded to a consortium comprising Genex Hotels Private Ltd, Dilip Buildcon Ltd and Indian Hotels Company Ltd (IHCL). Under the agreement, the consortium will form a special purpose vehicle (SPV) and take on the design, construction, financing, operation and transfer of the new facility through a long-term concession arrangement. The PPP deal is structured to provide the partners with the right to use the land while the tourism corporation retains ownership.
Officials said that the existing hotel which has been managed by MP Hotel Corporation Ltd (MPHCL) since the late 1980s will be completely razed to make way for a contemporary luxury property. The new development is planned to feature around 150 rooms, extensive banquet and meeting facilities capable of hosting major events, and a design that maximises views of the Upper Lake from guest rooms and public spaces.
Madhya Pradesh's Tourism Secretary described the project as a key enhancement for the city's hospitality infrastructure, which is expected to support growing visitor demand and position Bhopal as a strong meetings, incentives, conferences and exhibitions (MICE) destination. By integrating luxury accommodation with high-capacity event space, the redevelopment aims to attract both leisure and business travellers.
The concession agreement runs for about 60 years, with an option to extend by an additional 10 years, and includes financial terms such as a share of gross revenue to be paid to the tourism authority and an annual concession fee. Bidders competed based on revenue share offers, with the selected consortium committing to the highest terms.
Officials from the winning consortium said that the project is expected to be completed within three years from the start of works. The redevelopment is aligned with broader state efforts to revitalise tourism assets and enhance hospitality offerings in key urban centres.
The Lakeview site, known for its scenic location and lake views, has long been a landmark in Bhopal's hotel landscape. Redeveloping it into a high-end hotel with modern facilities reflects a push to meet rising expectations from national and international visitors, and to support economic activity tied to tourism and business travel in the state capital.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
