The Park Hotels Announces Major Expansion in North Bengal and Kolkata
In a significant move to bolster its presence in eastern India, Apeejay Surrendra Park Hotels (ASPHL) has unveiled ambitious expansion plans, targeting both North Bengal and Kolkata. This development follows recent expansions by other major hotel chains like Oberoi and Taj in the region, highlighting a growing interest in Bengal's hospitality sector.
New Hotel in Siliguri Through Strategic Partnership
On Thursday, ASPHL is set to sign a Memorandum of Understanding (MoU) with Luxmi Tea to establish a new hotel under The Park brand in Siliguri. This partnership marks a strategic entry into North Bengal, a region increasingly recognized as a hub for tourism and business.
Vijay Dewan, managing director of ASPHL, confirmed that the Siliguri property will feature 100 rooms, catering to the rising demand in the area. Dewan also revealed plans for a second The Park hotel in Kolkata along EM Bypass, scheduled to open in 2030. This addition will complement the group's iconic Park Street property, which has been operational since 1967.
Beyond hospitality, ASPHL is eyeing rapid growth in the retail food and beverage sector through its brand Flurys, indicating a diversified approach to expansion.
Rudra Chatterjee, managing director of Luxmi Group, expressed enthusiasm about the collaboration, stating, "We are delighted to partner on this hotel deal with The Park. It demonstrates our commitment to Siliguri and North Bengal as a growing tourism and business destination."
Joint Venture for Hospitality-Integrated Development in Kolkata
In a parallel development, ASPHL and Ambuja Neotia announced a joint venture on Wednesday for The Park Unizen, a hospitality-integrated project on EM Bypass in Kolkata. This venture involves a substantial investment of Rs 700 crore, with Ambuja Neotia contributing approximately Rs 260 crore for the development.
The project will be constructed on a 3.4-acre leasehold land parcel, with the serviced residences occupying 1.7 acres. The total construction area spans 7.5 lakh square feet, divided equally between the hotel (3.8 lakh sq ft) and residences (3.7 lakh sq ft).
Harshavardhan Neotia, chairman of Ambuja Neotia, provided details on the residential component, noting, "There will be two residential towers comprising 69 serviced residences. Piling work is slated to begin in March, and we hope the residences can be handed over to buyers by mid-March 2030. Tower B will have 35 units, of which 25 are already booked."
Under this collaboration, ASPHL will fully fund the hotel portion, while the residential segment is a 50-50 joint venture between the two entities.
Future Prospects and Expansion Goals
Priya Paul, chairperson of ASPHL, highlighted the significance of this partnership, stating, "This is the first time our group is collaborating with Ambuja Neotia; both of us are from this city. We may consider more joint ventures in the future." ASPHL currently operates 39 hotels under five brands, with about 400 rooms across Bengal.
Paul also outlined aggressive growth targets, aiming to double the room count in Bengal to approximately 800 rooms within the next four years. This expansion aligns with the group's strategy to capitalize on the region's economic and tourism potential.
The announcements underscore a robust phase for The Park Hotels, as it leverages partnerships and investments to strengthen its footprint in key markets, driving forward the hospitality landscape in eastern India.
