SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Hiranandani Communities partners with Fern Hotels and Marriott for serviced apartments at Alibaug township

#Hospitality & Retail#Commercial#India#Maharashtra
Synopsis

Hiranandani Communities has partnered with The Fern Hotels & Resorts, under the Series by Marriott collaboration, to introduce branded serviced apartments at Hiranandani Sands, a 225-acre coastal township in Nagaon, Alibaug. The collaboration brings residential ownership together with professionally managed hospitality services, including a proposed “lock-and-leave” model under which owners can make their units available for rentals when they are not in personal use, subject to applicable management and operating terms. The partners said the offering is intended to support Alibaug’s evolution beyond its established weekend tourism market by attracting long-stay guests, digital nomads and international travellers. The development also incorporates sustainability and community initiatives covering green-certified design, renewable energy, water conservation, biodiversity and local cultural engagement.

Hiranandani Communities has entered into a collaboration with The Fern Hotels & Resorts, under the Series by Marriott collaboration, to introduce branded serviced apartments at Hiranandani Sands, its integrated coastal township in Nagaon, Alibaug. The partnership brings together Hiranandani Communities, The Fern Hotels & Resorts and Marriott International to combine residential ownership with professionally managed hospitality services within the township. 
The collaboration comes as Alibaug's real estate and hospitality markets develop alongside improvements in connectivity and infrastructure. Traditionally regarded as a weekend destination for Mumbai residents, Alibaug is increasingly being positioned by developers and hospitality operators as a location for longer stays and residential use. The partners said the serviced apartment model is intended to support this transition by providing hospitality-managed residences that can be used by owners or made available for guests. 
Under the proposed “lock-and-leave” model, residences will be professionally managed through the Fern-Marriott partnership. Owners who are not using their units may make them available for rental through the management company, subject to the applicable management and operating terms. The model is intended to provide an alternative to conventional residential ownership, where owners remain responsible for managing an unoccupied property. 
Dr Niranjan Hiranandani, chairman, Hiranandani Communities, said the preferences of Indian homebuyers had evolved towards considering service standards, lifestyle and the overall experience associated with a property alongside the physical residence. He said the collaboration would bring internationally benchmarked hospitality into an owned home and noted that improving connectivity and infrastructure were supporting Alibaug's development as a year-round lifestyle and real estate destination. 
Kiran Andicot, senior vice president, South Asia, Marriott International, also participated virtually in the signing occasion, marking Marriott International's involvement in the collaboration. 
The hospitality-led residential model is expected to broaden the potential customer base beyond weekend visitors, with the project targeting long-stay guests, digital nomads and international travellers. The partners said this could support more consistent hospitality activity in the region rather than the seasonal fluctuations traditionally associated with coastal tourism in Maharashtra. 
Hiranandani Sands is spread across 225 acres and is planned as a coastal township combining premium residences, branded hospitality and lifestyle amenities. Its proposed ecosystem includes residential, hospitality, wellness, leisure and community components. 
The development also incorporates community and sustainability initiatives, including support for local artisans and craftsmanship, promotion of coastal cuisine and cultural traditions, and engagement with nearby heritage sites and natural reserves. Sustainability measures include green-certified design, renewable energy adoption, water conservation, biodiversity preservation and responsible coastal development. 
Hiranandani Communities has more than four decades of experience in integrated township development across residential, commercial, retail, hospitality, education and healthcare. The company said it has developed more than 34 million sq. ft. of residential space and 14.74 million sq. ft. of commercial space across locations including Powai and Thane in Mumbai, Panvel and Chennai.

Discussion

Have something to say? Post your comment