India, June 29 -- Omaxe Ltd. has announced the launch of a dedicated hospitality business vertical with plans to invest approximately Rs 6,200 crore over the next 4–5 years to develop 19 hotels across 13 cities in five states.
The proposed hospitality portfolio will span nearly 5 million sq. ft. and include hotels in Uttar Pradesh, New Delhi, Haryana, Punjab and Madhya Pradesh. The developments will be integrated with Omaxe's existing townships, mixed-use developments, commercial projects and urban infrastructure assets.
Among the key projects is a 158-key Gateway Hotel by IHCL at The Omaxe State in Dwarka, New Delhi. The company will also develop hospitality infrastructure through its public-private partnership (PPP) projects with ...