The Regent Hotel Bangalore is being developed as a joint venture between hospitality major Carlson & India's leading Realty group Unitech. The hotel is expected to come up by 2010.
Hospitality major Carlson is picking 26% stake in a fresh venture with the Unitech group for introducing the Regent hospitality brand in India. The joint venture would be developing the luxury hotel property located at Greater Noida with an estimated investment of Rs 450 crore.
Though Carlson has equity stakes in a few hotel management service ventures, this would be first project in which Carlson would also be directly involved in construction and development of the property. Carlson executives have earlier indicated that the group would be open to picking up anywhere between 26% and 50% stake in individual Regent properties along with local Indian partners. Plans are to set up premium Regent hotels in the country in major gateway cities such as Delhi, Mumbai, Bangalore and Goa over the next three years.
