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The Jain Group, Kolkata-based real estate developer, is embarking on a significant expansion in the hospitality sector, with plans to invest INR 500 crore by 2030. Collaborating with Sarovar Hotels Pvt Ltd, they are set to launch a new hotel in Rajarhat within the next four months, with an initial investment of approximately INR 120 crore. The management of the upcoming hotel will be overseen by Sarovar Hotels, as per the agreement signed in a memorandum of understanding (MoU) last week. Rishi Jain, the Managing Director of Jain Group, confirmed that the new hotel, named Sarovar Portico Kolkata Rajarhat, will feature 128 rooms spanning four categories: suites, premium, deluxe, and standard, with an anticipated opening in July.
Highlighting the Jain Group's existing presence in the hospitality sector through Holiday Inn at Kolkata airport, Shrayans Jain, the group's Vice-Chairman, articulated their ambitious Vision 2030. Their goal is to establish 1,000 hotel rooms across West Bengal, catering to various segments from upscale mid-market to luxury. In addition to the Rajarhat project, the company has plans to develop three more hotels in strategic locations including Siliguri, Durgapur, and Joka.
This partnership with Sarovar Hotels marks a significant milestone for the Jain Group as they seek to diversify and expand their business operations. With a clear vision for growth and development in the hospitality sector, the Jain Group aims to position itself as a key player in the regional hospitality landscape. Through this expansion initiative, they are poised to capitalise on the growing demand for quality accommodation options in West Bengal, catering to both business and leisure travelers alike.
The Jain Group's decision to invest INR 500 crore shows their dedication to the hospitality industry in the long run. It reflects their belief in the sector's potential for growth and profit. By using their skills in real estate and teaming up with trusted partners like Sarovar Hotels, the Jain Group is ready to seize new chances and make a mark in the competitive hospitality market.
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