Parsvnath's Ahmedabad luxury hotel to be ready by 2010

Ahmedabad, March 16 (IANS) Parsvnath Hotels Ltd (PHL), a subsidiary of real estate major Parsvnath Developers, Monday said its Rs.2.5-billion (Rs.250-crore) five-star hotel project in Vejalpur near here would be completed by 2010-end.

The 152-room luxury hotel will also have a 24-hour coffee shop, multi-cuisine and specialty restaurants, conference rooms, a business centre and a few boutique stores, a senior company official said.

The project will also have a shopping mall and multiplexes.

Asked why the company selected Ahmedabad for the project, the official said the city was a leading industrial hub in the country and luxury hotel business would he successful here.

Moreover, considering the investor-friendly environment of Gujarat, leading companies are now inclined to set up their manufacturing units in the state. Hotel business could benefit from this scenario, he added.

He noted that the Tata Group last year shifted its small car Nano project from Singur in West Bengal to Sanand near Ahmedabad in Gujarat.