Reliance’s new company, Reliance SOU, is planning hotels and resorts near the Statue of Unity in Gujarat’s Kevadia. According to the details available with the Registrar of Companies, Reliance’s new firm will foray into the hospitality industry, engaging in hotels, resorts, and service apartments that will provide short-term lodging facilities. The company also plans to develop lodging facilities on houseboats.
Situated along the banks of the Narmada River in Kevadia, the Statue of Unity overlooks the vast surroundings and the wide-stretching Sardar Sarovar Dam. The statue is the world’s tallest statue, with a height of 182 metres and depicts freedom fighter Vallabhbhai Patel, who was also the first deputy PM and Home Minister of independent India.
The statue has attracted around 10 million people since it was built four years ago. Significantly, Tata Group’s Indian Hotels Company has already partnered with Sardar Sarovar Narmada Nigam (SSNNL) and plans to launch two properties, namely Vivanta and Ginger.
In a stock exchange filing, Reliance said that it had incorporated a wholly-owned subsidiary called Reliance SOU (RSOUL) with the intention of developing commercial properties. However, it is not clear whether the same would be managed directly.
In recent times, Reliance has focused the spotlight on developing consumer-facing segments.
Also Read: Hindenburg 2.0 Coming Soon: Markets Wait With Baited Breath
