The owner company of Sheraton Bangalore Brigade Gateway and Grand Mercure in Bengaluru is looking for a way out to enter the South & West Indian booming business marker Kochi and Gandhinagar and the amount to be invested is budgeted is Rs 240 Crore. Well known for their perfection, Brigade group who is more into real estate business in Bengaluru is planning to spend Rs 60 lakh per key for both the projects which are expected to be operational by December 2017, quotes Nirupa Shankar, Director at Brigade Hospitality.
The Gandhinagar property will be a 200-room hotel at Gujarat International Finance Tec-City (GIFT City), near Gandhinagar and in Kochi, they already signed a lease agreement with Kochi Infopark to develop a 175-200-room property.
Six months back Brigade Hospitality Services Ltd CEO & Executive Director Vineet Verma had mentioned that the group is planning to invest between Rs 650-750 crore in its upcoming six to eight hotels which are to be developed by 2020.
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