GMR Infrastructure subsidiary GHIAL has tied up with Accor Hotels & Resorts, Singapore

GMR Infrastructure Ltd has announced that GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of the Company has tied up with Accor Hotels and Resorts, Singapore, for operating its first Business Hotel at Rajiv Gandhi International Airport in Shamshabad.

The construction of hotel will commence shortly and become operational by the time new international airport takes off in March, 2008. The hotel will come up in a five-acre site approx. 2.75 km from the Passenger Terminal Building (PTB). The hotel, in all, will have 300 keys, of which 120 will be developed in the first phase.

The agreement is being entered with Accor group of hotels, Singapore. Accor operates in nearly 100 countries.

The lease term for operating the hotel is for a period of ten years, which can be extended further on mutual agreement. As per the agreement, Accor will operate, manage and maintain the Hotel in accordance with Novotel Brand standards as followed worldwide. Accor will also provide Technical support during the construction stage to build the hotel as per Novotel standards.

Source : Equity Bulls

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