Date:17/05/2007 URL: http://www.thehindubusinessline.com/2007/05/17/stories/2007051704330300.htm

Back DS Group rules out Airport Hotel sale

Somasroy Chakraborty

Kolkata May 16 The Dharampal Satyapal (DS) Group plans to develop hotels in the luxury and budget segments on the Airport Hotel property by 2009-10, according to Ms Bhavna Sood, Vice President, Corporate Communications, DS Group. The company had acquired the Airport Hotel in 2006.

"We are currently in the planning stage. We are waiting for some clearances and we hope to get the properties up by 2009-10," Ms Sood told Business Line while dismissing speculation about a possible sale of the Airport Hotel to developers.

The company will enter into management contracts with international hotel brands and has invited expressions of interest. "We are looking for management contracts (for hospitality projects) in metros. Even otherwise, we do have the experience to manage hotels," Ms Sood said. However, she declined to give further details on investments, room inventory or the built-up area of the proposed projects.

The company currently owns a deluxe resort, Manu Maharani, in Nainital. In Jaipur, it plans a second hospitality project, which is expected to be operational at the beginning of 2009. According to the company Web site, DS Group currently has hospitality projects under way in Udaipur, Ranthambore, Shimla, Mussoorie, Corbett Park, Manali and Goa.