Omaxe Plans Rs 6,200 Crore Investment to Develop 19 Hotels Across Five States
Omaxe has launched a dedicated hospitality business vertical with plans to invest approximately Rs 6,200 crore over the next 4-5 years to develop 19 hotels across five states, including Uttar Pradesh, Delhi, Haryana, Madhya Pradesh, and Punjab. The portfolio will cover around 5 million sq ft and target various segments such as business travel, leisure, MICE, and religious tourism. Key projects include a 158-key Gateway Hotel by IHCL in Dwarka, New Delhi, developed under a PPP model. The expansion aims to integrate with Omaxe's existing real estate developments and generate recurring revenue, subject to regulatory approvals and market conditions.