Riding on the recent high after weathering the rout caused by the Hindenburg Research a year back, Adani Group has added more projects to its portfolio. The ports-to-power conglomerate is all set to build two premium segment hotels in the Sardar Vallabhbhai Patel International (SVPI) airport in Ahmedabad, which it operates.
According to reports, the group will pump in capital of Rs 1,500 crore over five years to set up the two hotel buildings.
The Adanis have thus ventured into hospitality real estate.
The projects, expected to be commissioned over the next five years, will come up near the international terminal of the SVPI airport.
However, it has emerged that the group will hand over the management of the hotels to a hospitality partner.
The Adani Group is also discussing signing a new property at the Adani Shantigram township with a hospitality partner.
The project will add cubits to Ahmedabad’s business and industry landscape standing.
Since 2020, Ahmedabad and Gandhinagar have seen approximately six new hotels.
Narendra Somani, president, Hotels and Restaurants’ Association (HRA) – Gujarat, told media outlets: “The twin cities of Ahmedabad and Gandhinagar already have a vast presence of high-end hotels and this is slated to grow in the years to come with the industrial investments and even the development of Gift City, both of which are driving footfalls of executives from across India and abroad here.”
Also Read: The Quran GPT App Brings Ancient Wisdom to Modern Times
