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Parsvnath Developers on high hopes in hospitality segment

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Parsvnath Developers needs no introduction in the Indian real estate segment and the company has so far executed lots of commercial and residential projects across the nation. Going with the latest buzz saying at the www.propertykhazana.com Parsvnath Developers is all set geared up to foray into the hospitality sector. Owning an appealing portfolio of residential and commercial projects, Parsvnath is looking to establish its brand name in the hotel sector too.
As reported by the source at the www.propertykhazana.com Parsvnath is committed to take up the development of 100 hotels in all the major Indian cities and for the same company is pouring investment of Rs. 25 billion initially to develop 40 hotels. Meantime, the senior executives are in discussions with the domestic and global hotel chains on JV’s.
The source further added at the www.propertykhazana.com is that recently Parsvnath Hotels Limited, an auxiliary of the Parsvnath Developers has signed a Joint Venture agreement with Royal Orchid Hotels limited to take up development of 10 hotel projects across India in the coming 5 years with total investment of about 5 billion initially. Meantime, Parsvnath Hotels Limited has signed a MoU with Fortune Park Hotels, a subsidiary of the major Indian hotel chain ITC limited. Parsvnath is on hopes to produce around Rs. 25 Billion on the hotel ventures once it is completed.
Source: NBTVLIVE

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