DB Hospitality has begun scouting for hotel chains to partner with for its Aero City project, India’s biggest hotel and convention centre at 1,100 rooms. DB Hospitality, Mumbai-based builder DB Realty’s hospitality arm, has approached chains like Marriott and Hilton and begun work on the site, people familiar with the matter said.
DB Realty bagged the 7.7-acre plot for Rs 400 crore at an auction in 2009 from Delhi International Airport (DIAL), the consortium that manages the Delhi airport. In 2016, it sold a part of its stake in the SPV to Reliance Group.
“As of now we have nothing to say. We will put everything in place (before the media) at an appropriate time,” said a spokesperson from DB Realty. Marriott and Hilton did not respond to emails seeking comments till press time.
“DB had previously signed a letter of undertaking (LoU) with Marriott. But the LoU was signed about two years ago and they expire after a period of time. They have approached chains like Marriott again and Hilton and a few others. DB Realty is driving the process and is in discussions with the chains. Work has started on the site,” said one of the persons familiar with the developments.
Source: Economic Times