Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Real estate developer Omaxe Ltd has announced its entry into the organised hospitality sector with plans to invest INR 6,200 crore over the next four to five years to develop 19 hotels across five states. The projects, spanning nearly 5 million sq ft, will be integrated with the company's townships, mixed-use developments and commercial projects. Uttar Pradesh will account for the majority of the portfolio with 12 hotels, including developments in Ayodhya, Vrindavan and Lucknow. Omaxe will partner with established hospitality operators to manage the hotels, with one of the flagship projects being a 158-key Gateway Hotel by IHCL at The Omaxe State in Dwarka, New Delhi.
Real estate developer Omaxe Ltd has unveiled a dedicated hospitality business vertical and announced plans to invest approximately INR 6,200 crore over the next four to five years to develop a portfolio of 19 hotels across five states, marking a significant expansion into the hospitality sector.
The company disclosed the investment plan in a regulatory filing on Monday, stating that the proposed hotel portfolio will cover nearly 5 million sq ft and will be developed across high-growth urban centres, pilgrimage destinations and major transit corridors. Rather than operating the hotels directly, Omaxe intends to partner with established hospitality companies that will manage the completed properties.
The proposed hotels will be integrated within the developer's existing townships, mixed-use developments, commercial destinations and urban infrastructure projects, reflecting the company's strategy of combining hospitality assets with larger real estate developments.
Uttar Pradesh will account for the largest share of the proposed expansion, with 12 of the 19 hotels planned in the state. The pipeline includes two hotels each in Ayodhya and Vrindavan, along with three properties in Lucknow. The remaining hotels will be developed across four other states, although the company has not disclosed the complete state-wise distribution.
Among the flagship developments announced is a 158-key Gateway Hotel by IHCL, which will form part of The Omaxe State mixed-use project in Dwarka, New Delhi. The hotel is expected to complement the broader commercial and entertainment ecosystem being developed at the site.
The hospitality expansion comes as developers increasingly diversify into hotel assets to capitalise on growing demand from business travel, religious tourism and leisure segments. The integration of hotels with mixed-use developments has also gained prominence as developers seek to create destination projects combining residential, commercial, retail and hospitality components within a single development.
Omaxe said the planned hotel portfolio would focus on locations witnessing sustained infrastructure development, urban expansion and increasing visitor traffic. Pilgrimage destinations, particularly in Uttar Pradesh, have emerged as a major area of investment following ongoing government-led infrastructure upgrades and rising tourism.
Established in 1987, Omaxe Group has delivered more than 140.17 million sq ft of real estate across 31 cities in eight states, including Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Delhi, Uttarakhand and Himachal Pradesh. The company's portfolio spans residential, commercial and integrated township developments, with the addition of a dedicated hospitality business representing its latest diversification strategy.
The planned investment is expected to be executed over the next four to five years as Omaxe expands its presence in India's organised hospitality sector through partnerships with established hotel operators.
Source - PTI
Advertisement
Facebook
Whatsapp
