7 months ago
ITC Hotels secures 91-year lease for Delhi hotel project
ITC Hotels has signed a very long-term agreement to build a fancy new hotel in Delhi.
They will pay a lot of money to rent the land for 91 years.
The hotel will have special food and big rooms for parties.
This will help ITC Hotels become more important in the Delhi area.
The hotel is expected to make Yashobhoomi a top place for big events and conventions.
ITC Hotels already has many hotels in Delhi and wants to add this new one to its list.
ITC Hotels has secured a 91-year lease for land in Yashobhoomi, Dwarka, New Delhi.
The lease premium for the land is ₹326.5 crore.
The project involves developing a premium 5-star hotel with banqueting and signature cuisine offerings.
The lease is from the India International Convention and Exhibition Centre Limited.
This project aims to strengthen ITC Hotels' presence in the Delhi NCR hospitality market.
- Who
- ITC Hotels
- What
- Secured a 91-year lease for a 5-star hotel project
- Where
- Yashobhoomi, Dwarka, New Delhi
- When
- Not specified
- Why
- To strengthen its presence in the Delhi NCR hospitality market
Key facts
- Company
- ITC Hotels
- Location
- Yashobhoomi, Dwarka, New Delhi
- Lease Period
- 91 years
- Lease Premium
- ₹326.5 crore
- Project Type
- 5-star hotel with banqueting and signature cuisine offerings
Timeline
ITC Hotels eyes Patna hotel redevelopment, fueling expansion plans.
Interest sparks Delhi Yashobhoomi project lease.
Expansion drive targets 220 properties by 2030, bags 91-year Delhi lease.
ITC Hotels secures Yashobhoomi project for ₹327 crore.
Quotes
Anil Chadha
Managing Director of ITC Hotels Limited
“Yashobhoomi is a gamechanger for the MICE industry. It has already hosted a large number of trade shows and big conventions. ITCHL shall leave no stone unturned to create one of the finest hospitality offerings through the proposed hotel that will showcase our culinary and service excellence to global guests.”
thehansindia.com
Sources
ITC Hotels receives allotment of land at Yashobhoomi for five-star hotel
Allotment Of Leasehold Land at Yashobohoomi To ITC Hotels Limited
Allotment Of Leasehold Land at Yashobohoomi To ITC Hotels Limited
ITC Hotels secures 91-year lease in Delhi for ₹327 crore Yashobhoomi hotel project
