Shristi Hotel Private Ltd, the hotel arm of the Kanoria family-promoted Shristi Group, is looking at both organic and inorganic growth to spread its wing nationally. While it has already bought large parcels of lands at Udaypur and Pondicherry to build luxury resorts, the company is also on the look out for operational and running hotel properties across all major metros to put up business hotels, resorts and hotels of other formats, said Sujit Kanoria, trustee, Kanoria Foundation and managing director, Shristi. Mumbai and Chennai could be two possible next ports of call for the Kolkata-headquartered hotel company. The group’s first hotel property- The Westin Kolkata Rajarhat, which (the first phase) had been thrown open 47 days ago, has already been voted one of the best hotel properties among Mariott International Hotels in APAC by a Mariott International survey.
It is not just in the metros, Shristi Hotel is also looking at opportunities in various lucrative and upcoming tier-II, tier-III cities, said Kanoria. The group has a number of large infrastructure and multi-utility projects in different tier-II, tier-III cities. “These tier-II, tier-III cities are coming up very fast. Maybe we will have to look at different formats for these cities.
Although we do not have any specific numbers- how many hotels we are looking at or what is the investment figure we are looking at, we will certainly respond to the market demands and dynamics and mark our presence in all major and eventually upcoming cities over the next few years and we will bring in different brands, depending on nature, character and demand of the location,” said Kanoria.
Sanjeev Oberoi, chief executive officer, Shristi Hotel Pvt Ltd, said that The Westing Kolkata Rajarhat, one of the tallest hotel properties in the country with a height of 146 meter (479 ft), is coming up with a total capital outlay of Rs 1500 crore. The entire 8 acre property will also have 105 serviced apartments, a premium luxury mall and a helipad on top of the 31-floor hotel. While the serviced apartments are expected to be thrown open over the next four months, the remaining 134 rooms are likely to be ready by June-July, 2018 and the adjacent mall will be ready in next two and a half year. With a 4000 person banqueting facility, the hotel is betting big on the MICE business. “More than a hotel, we are positing the 5-star luxury deluxe hotel as an urban resort,” said Kanoria.