Shristi Hotel outlines its growth strategy

KOLKATA: Shristi Hotel Private Ltd, an arm of Kolkata-based Kanoria Foundation, is looking to acquire business hotels and resorts across the country, with a strategic focus on cities like Mumbai, Chennai and Bengaluru.

This apart, the firm, which is privately held by the Kanoria family — promoters of Srei Equipment Finance Ltd — is looking to build two properties from the ground up in Udaipur and Puducherry. The company has already acquired land for these two properties and has initiated discussions with several international hotel chains for management of these properties. The proposed property in Udaipur is expected to have 300 rooms and the one in Puducherry, 100. The company has already initiated discussions with several international hotel chains for management of these properties.

Shristi Hotel, which last month launched the Westin hotel in Kolkata under a partnership with the US’s Marriott International Inc., is looking at townships as well as resorts and business hotels that are already operational for rapid expansion. "Our hospital in Navi Mumbai will become operational by mid-2018. We shall use the hotel in Rajarhat to set standard operating procedures (SOPs) in excellence that will be used elsewhere,” said managing director Sujit Kanoria.

The company has spent Rs 1,100 crore on its Kolkata property, which is scheduled to have 314 rooms when completed by June next year. Presently, only 180 rooms are operational. Total outlay on the second phase of expansion is estimated to cost Rs 400 crore more, Kanoria added.

The firm is looking to set up a shopping mall of around 800,000 square feet (sq.ft.) in the same complex as Westin in Kolkata. A serviced apartment of 100 rooms is also being built on the complex and will be ready in four months.