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SIDCUL looks for hoteliers in Uttaranchal

The State Industrial Development Corporation of Uttaranchal Limited (SIDCUL) has identified two locations for developing business hotels in Pantnagar and Haridwar Integrated Industrial Estate (IIE). The region and its vicinity had been increasingly finding favour amongst industrial units of late. Because the region has already been into a full-fledged industrial belt the demand for hotels has arisen. Parikshit Dey of Infrastructure Leasing & Financial Services (IL&FS), who is consultant (PPP) for SIDCUL on various projects spoke to Express Hospitality. He said, "Since these regions will grow in a major way with big industrial giants setting up factories, a lot of business traffic will be generated from across the country." Hence, hotels are required and that too the business ones and not resorts.

SIDCUL is offering two locations where business hotels will be constructed following the bidding process, which will be restricted to the 100-room mark. On being asked the reason, Dey explained, "There are no legal issues or otherwise involved in the restriction. It is on the basis of our preliminary surveys conducted regarding the capacity and other attributes of proposed hotels in these areas."

Many big hotel chains are in the running for acquiring land in this industrial region. Dey did not divulge information on the front runners on the bid but informed that once the decision of hotel chain(s) is taken, SIDCUL would make sure that the construction for hotels starts within three months. Also, he said, the time for hotel operation is estimated to begin after nine months.

The reserved price for development of hotel has been quoted to begin at Rs 1,500 and Rs 2,500 per square metre for Pantnagar and Haridwar IIE, respectively. The total estimated land cover in the belt for industrial development is over five acres out of which SIDCUL will be allocating around 1.5 acres for hotel use. "We are asking for business class hotel bids and none of this sort exists at this point of time in the area of IIE Haridwar," Dey added.