Call Us - 91 33 4020 4020  
Sign In  I  Sitemap   
AxiomEstates - India Real Estate
     India Properties Worldwide
Axiom Banner
Bookmark and Share
E-mail Print Tell A Friend

Residential Properties

Indian Real Estate News : Mumbai
3 luxury brands in race for Oberoi Realty's hotel in Mumbai
Source: ET Bureau Jul 27, 2012
Ultra-luxury hotel brands Bulgari, Waldorf Astoria and Raffles have joined the race for Oberoi Realty's new luxury hotel in Worli, Mumbai after talks with the original suitor Mandarin Oriental did not make much headway.
The three ultra luxury hotel brands are seeking to make an India entry through a management tie-up with Oberoi Realty.
Vikas Oberoi, managing director of Oberoi Realty said he is talking to three hotel companies, but did not reveal their names and did not comment on the talks with Mandarin Oriental. "We have signed an MOU and are under a confidentiality agreement and cannot comment on this," said Oberoi. Mandarin, which began talks with Oberoi Realty for a management contract a year ago, did not specifically comment on talks falling through, but said it is still looking for an entry into India.
"Our development team constantly reviews opportunities around the world for potential new hotels, including in India. India remains an important destination for Mandarin Oriental," said a company spokesperson in an email response.
Fairmont Raffles Hotels International, which owns the Raffles brand already has two brands - Fairmont and Swissotel - in India and is looking at bringing in the Raffles brand to the country soon. "India is surely on the development map of Raffles. We would like to do two hotels in the country," said Vivek Narain, director for development for Fairmont Raffles Hotels International, but declined to comment on talks with Oberoi Realty.
Marriott, which has a joint venture with jeweler and luxury goods designer Bvlgari SpA for the Bulgari Hotels & Resorts brand is already present in Indian through its other brands like Courtyard, Marriott and Ritz Carlton. Waldorf Astoria's parent Hilton also has its other brands like DoubleTree, Hilton Garden Inn and Hampton by Hilton in India.
Rajesh Punjabi, vice-president, development - India, Hilton Worldwide did not confirm if the company was talking to Oberoi Realty for a management contract for the Waldorf Astoria brand, but said: "The development of Waldorf Astoria in key markets within India is part of our core strategy and are in conversation with potential developers. The fundamentals that drive growth in the Indian hospitality industry are strong and these will continue to propel the industry."
Asha Langdown, marketing and external relations director, South East Asia & India for Bulgari Hotels & Resorts said the company does not comment on potential or in course negotiations worldwide.
The hotel in Mumbai that Oberoi Realty is building will have between 200 and 225 rooms. Construction is underway and the hotel is expected to be operational by early 2015. The hotel is part of a larger 3.1 million sq ft mixed-use development. Apart from the contract for the hotel, the developer might also engage the same hotel company to manage the 200 branded residences being planned at the site.

Tag: india real estate, mumbai real estate, mumbai properties, Oberoi Realty
 Leave your comments

Citywise News
    All India
    Delhi NCR
    Other Cities
News Category
    Home Loans
    Tax and Legal