New Delhi: Unlisted Bharat Hotels Ltd will spend Rs 1.5 billion to set up a luxury hotel in the tourist hot-spot desert state of Rajasthan, a top company official said on Tuesday.
The proposed 200-room hotel will be situated on 12,000 square metres of land in the state capital Jaipur, and is expected to be up and running in 18 months, Lalit Suri, chairman of Bharat Hotels, said on the sidelines of a tourism industry conference.
"Everyone who comes to Rajasthan goes through Jaipur, and there just aren't enough hotels," he said. "Rajasthan has not been fully exploited." The Rs 1.5-billion investment includes the acquisition price of the land.
Bharat Hotels bought the plot for the hotel on Friday from the Rajasthan government at the reserve price of Rs 260 million, which under a new government policy to attract hoteliers in the room-starved state was pegged at half the current commercial land rate.
Every year hundreds of thousands of tourists visit Jaipur, often referred to as the 'pink city' by tourist guidebooks due its distinctively pink-coloured sandstone buildings.
The city is a stop on the well-trodden tourist trail that also includes New Delhi and Agra, home to the Taj Mahal.
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