Ambience Developers, which is successfully running a hotel in Gurgaon, is set to invest R1,000 crore for developing a twin hotel in Delhi, the first in the national capital. The firm has partnered with Sheraton Hotels for this project.
Raj Singh Gehlot, managing director of Ambience Developers said, ?We have planned an investment of R1,000 crore for developing a twin hotel in east Delhi near Cross River Mall, which will be managed by Sheraton.?
The company already runs Hotel Leela Kempinski in Gurgaon, under a management agreement between Ambience group of developers and Hotel Leelaventure.
Ambience will be funding the investment through internal accruals and debts raised through various nationalised banks.