New Delhi: Real estate developer Omaxe Ltd. has announced the launch of a dedicated hospitality business vertical with plans to develop 19 hotels across five states over the next 4–5 years.
According to the company, the proposed investment is approximately ₹6,200 crore, subject to project-specific, regulatory and other necessary approvals, as well as market conditions. The planned developments will span nearly 5 million sq. ft. and will be integrated with Omaxe’s existing townships, mixed-use developments, commercial destinations and urban infrastructure projects.
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The company said 12 of the 19 hotels will be developed in Uttar Pradesh, including two in Ayodhya, three in Lucknow, one each in Prayagraj, Ghaziabad and Gorakhpur, two in Kaushambi and two in Vrindavan.
Omaxe also plans to develop one hotel each in New Delhi, Faridabad and Ujjain, along with four hotels across Chandigarh, Amritsar and Ludhiana, including two properties in Chandigarh. The company said the hospitality portfolio will have a presence across 13 cities in five states.
Among the proposed developments is a 158-key Gateway Hotel by IHCL at The Omaxe State, the company’s 50.4-acre integrated destination in Dwarka, New Delhi, being developed under a Public-Private Partnership (PPP) model with the Delhi Development Authority (DDA).
According to Omaxe, it will also develop transit-oriented hospitality infrastructure in Uttar Pradesh through its PPP projects with the Uttar Pradesh State Road Transport Corporation (UPSRTC).
Commenting on the announcement, Mr. Mohit Goel, Managing Director, Omaxe Ltd., said, “Hospitality is a natural extension of our integrated development strategy. With improving connectivity, growing religious tourism and increasing travel across emerging markets, there is a clear need for quality hospitality infrastructure in these locations. Through this expansion, we aim to create well-located hospitality destinations that complement our existing developments, strengthen our recurring revenue base and contribute to the economic activity of the cities where we operate.”
The company said the hospitality portfolio will cater to business travel, leisure tourism, destination weddings, MICE (Meetings, Incentives, Conferences and Exhibitions) and religious tourism. It will comprise midscale and upscale branded hotels, luxury and premium flagship properties, high-capacity pilgrimage hotels, and branded serviced apartments and extended-stay studios.
According to Omaxe, the investment will be deployed in phases over the next 4–5 years. Based on current business assumptions and subject to project execution, occupancy levels, market conditions, regulatory approvals and other relevant factors, the hospitality business has the potential to generate approximately ₹1,000 crore in annual revenue upon stabilization.
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The company also said it is in advanced discussions with domestic and international hospitality operators for branding and management partnerships. Formal announcements will be made after definitive agreements are finalized.
