Supertech merges with Leela Palaces for Rs 450 cr hotel in Noida
In a recent announcement by the real estate firm Supertech, it was stated that they have merged with the hospitality chain The Leela Palace, Hotel and Resorts for the management of its luxury hotel in Noida which has been planned to develop with an investment of Rs 450 crore.
The hotel containing 250 rooms is a part of the mixed-use project, Supernova and has 5 million sq ft of built-up area. The project will be completed in 4 years. The announcement of the tie up was made by the Supertech Chairman and Managing Director R K Arora.
However, this hotel will be built at an investment of Rs 450 crore with a total cost of about Rs 2,700 crore. The proposed investment would be funded through internal accruals, debt and private equity.
Vivek Nair, Leela Group Vice Chairman and Managing Director stated that Noida is an upcoming area of Delhi-NCR and that their hotels are already operational in Delhi and Gurgaon.
Delhi NCR, hospitality chain, Hotel and Resorts, Investment, luxury hotel in Noida, Real estate firm, Supernova, Supertech, Supertech Chairman and Managing Director R K Arora, The Leela Palaces
