Today in New Delhi, India
Dec 12, 2018-Wednesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Treasure Island owners plan luxury hotel

IT?S A cruel irony. After robbing the nearby residents of a peaceful night?s sleep, the owners of Treasure Island are now promising overnight stays in ?unmatched luxury and comfort? at a 4-star hotel to come up at the multiplex shortly. Multiplex owners Entertainment World Developers Private Limited (EWDPL) on Tuesday inked an agreement with the Sarovar Park Plaza group to develop and run a 100-room hotel at Treasure Island on a revenue sharing basis.

india Updated: Mar 20, 2006 13:50 IST
Saeed Khan

IT’S A cruel irony. After robbing the nearby residents of a peaceful night’s sleep, the owners of Treasure Island are now promising overnight stays in “unmatched luxury and comfort” at a 4-star hotel to come up at the multiplex shortly. Multiplex owners Entertainment World Developers Private Limited (EWDPL) on Tuesday inked an agreement with the Sarovar Park Plaza group to develop and run a 100-room hotel at Treasure Island on a revenue sharing basis.

Sarovar Park Plaza, a brand partner of Minneapolis-based Carlson Hotels Worldwide, owns around 40 properties all over the country, most notably the Marine Plaza, Mumbai, and the Solluna Resort at Corbett Park.

To be named Portico Plaza the hotel will boast presidential and regular suites, a multi-cuisine restaurant as well as an Olympic-size pool and a gym-cum-health centre.

“It will be aimed primarily at upmarket business travellers looking for a place to stay in the heart of the business district”, said an EWDPL office-bearer.

The hotel ‘shell’ is already in place and a team of Sarovar Park Plaza officials and interior decorators will arrive in the City on Tuesday to map out the design and aesthetics, he added.

Once operational, the 4-star hotel will further strain sewage and drainage resources of Tukoganj already groaning under civic infrastructure overload caused by the multiplex. Parking, already a grim problem even though film screenings are yet to get underway at Treasure Island, too, is likely to assume mammoth proportions once hotel staffers are appointed.

As per the agreement terms, EWDPL would lease out a portion of the MG Road multiplex in return for a percentage of profits. When contacted EWDPL office-bearers confirmed the agreement signing but refused to divulge any information about stakeholding, the size of the leased area or project costs.

Sources said that the hotel is to be partially bankrolled by the Madhya Pradesh Financial Corporation which is reported to have loaned Rs 5 crore for the project. The reports, however, could not be confirmed as repeated attempts to contact Corporation MD Savita Gate Chandra proved futile.

First Published: Mar 20, 2006 13:50 IST