Reality developer Abhinandan Lodha Group has revealed plans to make an investment of Rs20bn ($240.73m) in collaboration with its hospitality partners to develop five luxury hotels across Indian cities.
These properties will be developed in Ayodhya, Vrindavan, Benares, Shimla, and Amritsar.
The partnership with Leela Palaces, Hotels & Resorts will see the development of a luxury modern palace hotel in Ayodhya, reported The Economic Times.
This hotel will be situated near the soon-to-be-inaugurated Shri Ram Janmabhoomi Temple, occupying a five-acre site along the Sarayu River.
It is part of The Sarayu project, which is a 51-acre development by Abhinandan Lodha Group.
The project includes residential plots and villas across 31 acres, as well as high-rise luxury apartments spanning 15 acres.
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Scheduled to open by March 2028, the 100-room hotel in Ayodhya is expected to require an investment of over Rs4.5bn.
The remaining four hotels in the group’s portfolio are also anticipated to attract similar levels of investment.
The partnership extends beyond design and development, with Leela Palaces, Hotels & Resorts also co-owning the Ayodhya property.
This marks the hotel chain’s first joint venture in luxury property development.
The Abhinandan Lodha Group chairman Abhinandan Lodha said: “Our partnership with The Leela extends to the overall experience and details, with The Leela managing the clubhouse, serviced villas and serviced luxury apartments, ensuring a comprehensive luxury experience for guests and residents.
“We plan to explore similar luxury hospitality formats in other cities as well.”
Last year, House of Abhinandan Lodha disclosed its strategy to invest more than Rs110bn in land acquisitions and developments nationwide over the next three to four years.
This move was aimed at capitalising on the increasing demand for plotted developments and land investments.
Of the total investment, Rs30bn is allocated for Uttar Pradesh, with Rs12bn earmarked for Ayodhya.
The company plans to fund these investments through internal accruals.