Hampton Sky Realty Signs Two Hotels with IHCL
The proposed hotel will be operated by IHCL under its brand “Gateway” in terms of the Agreements
Hampton Sky Realty (Hampton) has announced its collaboration with Indian Hotels Company Limited (IHCL) and its subsidiary, Roots Corporation Limited (RCL), for two hotel properties in Ludhiana, Punjab.
Hampton and IHCL have entered into a Hotel Management Agreement (HMA) and Technical Services Agreement (TSA) (together referred to as the Gateway Agreements), which have been signed by Kavya Arora, Director on behalf of Hampton and by Suma Venkatesh, Executive Vice President, Real Estate & Development on behalf of IHCL.
Pursuant to the Gateway Agreements, Hampton has agreed to construct a property, either directly or through a special purpose vehicle, at a land owned by Hampton at Mangli Nichhi, Ludhiana Chandigarh Highway, Punjab. The proposed hotel will be operated by IHCL under its brand “Gateway” in terms of the Agreements.
Hampton has also entered into an agreement to lease (ATL) with Roots Corporation Limited (RCL), a subsidiary of IHCL, which has been signed by Kavya Arora, on behalf of Hampton and by Deepika Rao, on behalf of RCL.
In terms of the ATL, Hampton has agreed to construct and develop a separate property on the abovementioned land of Hampton. Upon completion of construction, the property will be granted on lease to RCL by way of a separate lease deed, for the latter’s use as a hotel under “Ginger” brand. The proposed Ginger hotel will offer approximately 100 guest rooms and will feature a variety of amenities, including an all-day dining restaurant and bar, meeting room, fitness center and swimming pool.
The partnership between Hampton and IHCL/RCL will bring an international standard of service and hospitality to Ludhiana. The proposed hotel projects would also create significant job opportunities, boosting the local economy and contributing to Ludhiana’s appeal as a key business and leisure destination, providing travellers with an upscale and accessible stay.
