1 year ago
IHCL and Madison to Launch 10 New Ginger Hotels
The Indian Hotels Company (IHCL) is teaming up with Madison to build 10 new Ginger hotels in South India.
Madison will invest around Rs 500 crore to construct these hotels, which will have over 1,000 rooms.
The hotels are planned to be built within the next three years, including new and renovated buildings.
The first hotel, with 75 rooms, will be in Genome Valley, Telangana.
Ginger hotels cater to travelers, especially corporate and those in spiritual areas.
IHCL and Madison will launch 10 new Ginger hotels in South India.
Madison will invest approximately Rs 500 crore in construction.
The hotels will have over 1,000 keys and will be built in the next three years.
Projects include greenfield and brownfield sites.
The first hotel will be in Genome Valley, Telangana, with 75 keys.
- Who
- Indian Hotels Company (IHCL) and Madison, a hospitality platform.
- What
- IHCL and Madison will launch 10 new Ginger hotels.
- Where
- South India, including Genome Valley in Telangana.
- When
- Within the next three years.
- Why
- To capitalize on opportunities in the mid-scale segment.
Key facts
- Company
- Indian Hotels Company (IHCL)
- Partner
- Madison
- Number of Hotels
- 10
- Total Keys
- Over 1,000
- Investment
- Rs 500 crore
- Location
- South India
- Timeline
- Next three years
Quotes
Suma Venkatesh
Executive Vice President, Real Estate & Development, IHCL
“Signing of this framework agreement for 10 Ginger hotels across the southern states is reflective of this potential.”
financialexpress.com
Jasmeet Chhabra
Co-Founder, JV Ventures, Madison’s parent company
“the company will roll out ten Ginger Hotels with over 1,000 keys with an estimated outlay towards construction cost of INR 500 crores across industrial and spiritual towns in southern India over the next 3 years in partnership with IHCL.”
financialexpress.com
Sources
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