Published On:February 5 2016
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Aiana Hotels inks MoU to manage 4 luxury resorts in Karnataka.
Aiana Hotels and Resorts, the new hospitality venture of Leela Hotels scion, Amruda Nair, has signed an MoU with Ferns Estates and Developers to manage and operate four, five-star luxury resorts in Karnataka for a duration of 10 years. The resorts will be developed by Ferns at an investment of ₹400 crore excluding the cost of land, through internal accruals, over the next five years.
Construction of the first full-service 100-keys resort located amidst 50 acres of coffee plantation in Sakleshpur district will begin in October and be completed in 2019.
'We are following a hybrid business model for the resort, targeted at young leisure travellers from Bengaluru. The resort will comprise hundred 1/2/3 bedroom cottages, including 50 resort cottages and 50 branded residences. The residences will be sold under a fractional ownership model with single or multiple owners for each cottage and will serve as holiday homes for those interested in investing in an asset,' Amruda Nair, Joint Managing Director & CEO, Aiana Hotels & Resorts, told BusinessLine. Aiana Hotels is a joint venture company between Nair and Sheikh Faisal Bin Qassim Al Thani, Chairman of Qatar-headquartered diversified industry group, Al Faisal Holding.
The second resort will come up on the banks of the river Hemavathi near Kodlipet, the third is planned for a destination that is 20 km away from Nandi Hills on the outskirts of Bengaluru and the search is on for a suitable site for setting up the fourth resort near the Kabini River or in Kodagu district.