Upfront

Parsvnath Hotels ties up with Royal Orchid Hotels

Parsvnath Hotels, a wholly-owned subsidiary of Delhi-based real estate developer Parsvnath Developers, has announced a joint venture with Bangalore-based Royal Orchid Hotels to develop 10 hotels at an investment of Rs 500 crore.

According to Parsvnath Royal Orchid Hotels, over 1000 rooms are likely to be built under the joint venture. The proposed hotel projects are likely to be completed in the next five years, which will include four five-star and four four-star hotels. In addition, the JV company also plans to develop resorts and service apartments.