Newstrack

Baderwals to venture into hotel sector

Dinkar Farwaha - New Delhi

Real estate development company, Baderwals, has expressed its intentions of venturing into the hotel sector. Sushil Baderwal, its CMD, said, "We are in the process of developing hotels in Panna (Madhya Pradesh), Bhiwadi (Rajasthan) and Panipat (Haryana)."

According to him, the Panna property will be a premium spa and wellness resort. "The resort will also have a private airstrip," Baderwal added. In Bhiwadi and Panipat, the company is opting for a mixed-use model. In Panipat the group is building a 40-room mid-market hotel and a shopping mall on owned land while in Bhiwadi, it is developing a premium property and a shopping mall. These properties are expected to be opened within the next one to two years.

When asked whether the company would the group would opt for management and/or franchise agreements for these properties, Baderwal replied, "We are exploring both the options, whether to manage the property or to tie-up with a management company, and will announce the development in due course." The company plans to open more hotels in emerging tier II cities and is reportedly in talks with landowners.