The Telegraph
Since 1st March, 1999
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Top bidders for hotel plot

Calcutta, April 3: Leading hospitality groups and construction companies have bid for a six-acre leasehold property off the bypass to build a five-star hotel.

ITC Ltd, which already has a property in the city, the Apeejay Surrendra Group, which has the Park Hotel chain in its stable, and Delhi-based DLF Universal and Unitech are among those that are in the running for the plot the Calcutta Metropolitan Development Authority (CMDA) put up for bidding.

After receiving and examining 10 technical bids, concept notes and details of the capabilities of the bidders at a meeting today, CMDA officials said the winner would be chosen after the financial bids were opened on April 7.

“We are looking at nothing else but the price,” said an official who is a member of the committee that has been tasked with evaluating the bids and seeing the process through to the start of construction. “On offer is a super prime property in the fastest growing part of Calcutta,” the official said.

While ITC and Park are established names in the hospitality business, some of the others have tied up with international hotel brands. Bengal Construction, an upcoming group, is partnering Crowne Plaza and Holiday Inn ' both belonging to the Intercontinental stable.

DLF has made its pitch in tandem with Hilton, and Unitech with JW Marriott. Accor Hotels, the French group that had once expre-ssed interest in Great Eastern Hotel, is partnering Mad- hya Pradesh Glycem. The MGF'MREMAAR comb- ine has joined forces with Intercontinental.

Also in the race are the Palm Beach Hotel-Ferrari Hotel combine and Crown Plaza Surya.

On the Buddhadeb Bhattacharjee government’s prodding, the CMDA decided to put the site up for bidding after a November survey revealed that the hospitality industry in Calcutta was poised for a boom.

The price of commercial land off the bypass is Rs 10 to 15 lakh a cottah or Rs 7.50 to 9 crore an acre.

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