Aiana Hotels signs up 1,000 rooms for mgmt contract

By: |
Pune | Published: July 21, 2016 6:20:10 AM

The first of this resorts is likely to open by end of this year at Munnar in Kerala

Aiana Hotels and Resorts, the hospitality JV of Amruda Nair, grand daughter of late captain C P Krishnan Nair, has crossed the 1,000-room mark under the Aiana brand.

The first of this resorts is likely to open by end of this year at Munnar in Kerala followed by Sakleshpur in Karnataka. A property in Mecca, Saudi Arabia will be ready for the 2017 Haj season, Nair, JM director & CEO, Aiana said.

Aiana is a 50:50 JV with Sheikh Faisal Bin Qassim Al Thani of Qatar. Al Faisal Holding is a $7 billion group. “Aiana’s operations are split between Doha and Mumbai. We have signed up management contracts for eight properties – two in the Middle East and six in India. We have crossed 1,000 rooms under construction,” Nair said.

Aiana Munnar is being developed by Moonriver Resort. As part of the strategy, fractal ownership is on offer for 33 villas at the 23 acre Munnar property. The MoU for the 50 acre Aiana Sakleshpur with Fern Estates and Developers has been signed.

The developers of these properties will be offering fractional ownership of the resort to individual investors.

“Fractional ownership is not a time share property but investors get actual ownership of the property,” Nair said.

The investors will get all the benefits of a vacation home without being hassled about the maintenance. “Investors could own the entire villa in a resort it could be a fraction  with title of the property being exchanged. This is for the first time such a thing is being tried in India,” Nair said.

“Aiana will follow the Indian travellers and go where they go just like Kempinski did by following German travellers and grew,” Nair added.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.