Called `Ananda - in the Himalayas,' the 80-room resort near Rishikesh in Uttar Pradesh will open its doors in December. The resort will provide health and rejuvenation facilities along with therapeutic facilities to guests, IHHR chairman Gautam Khanna told mediapersons.

``We intend to position Ananda as among the finest luxury resorts and spas in the world where people with common ailments such as spondolosis and back problems can also get treatment. There will be a special concentration on ayurveda and yoga,'' said Khanna.

Khanna said the project will have a debt:equity ratio of 40:60, with Tourism Finance Corporation of India (TFCI) and State Bank of India (SBI) contributing in the loan component. ``We expect to break-even in two years,'' said Khanna.

Besides this, IHHR, a hotel owning anddeveloping company, has plans to set up a number of other projects. ``The company plans to make a presence in five-star boutique hotels and health resorts. It plans to enter the three-star hotel market where a major gap exists,'' said Khanna.

IHHR is expected to open its second health resort and spa in Goa in the next couple of years. ``We are watching the market in Goa, where there already are quite a few players,'' said Khanna.

The target market for Ananda includes high income upmarket tourists, people with common ailments, international and domestic individual and group travellers, spa buffs and conferences. ``IHHR is in taks with Indian Airlines and international travel agents for promoting the resort,'' said Khanna.

The spa concept, which is popular abroad, is a facility which operates under the philosophy that total well-being can be attained by focussing on three elements -- relaxation, rejuvenation and wellness. Khanna said the company had selected Rishikesh as the location for Ananda -- whichmeans health and self contentment -- as it is the centre for yoga and spiritual meditation. ``Our endeavour would be to capitalise on the opportunities offered by India in terms of a destination and the Indian way of holistic well-being incorporating meditation, yoga and ayurveda,'' said Khanna.