PUNE: City-based Metropolis Hotels has bagged a contract to build Navi Mumbai's first five-star hotel.
The hotel, to be built on a 47,000 sq m plot off Palm Beach drive, was auctioned by City and Industrial Development Corporation (CIDCO). The net deal is around Rs.2.83 billion, the biggest ever plot CIDCO has auctioned.
The hotel is to be built at a whopping Rs 60,085.15 per sq m.
Metropolis Hotels is a joint venture company owned by Pune-based Avinash Bhosale Group (ABIL), engaged in the business of hospitality and real estate and infrastructure and Sun-n-Sand.
“We are jubilant at this success and plan to bring in a wellknown international brand to run the proposed 500-room hotel, expected to be completed in three years,” Bhosale said.
The plot is strategically located at a distance of just 6 km from the new proposed international airport and approximately the same distance from the Trans-Harbour Link connecting South Mumbai to Navi Mumbai. The site has access to CIDCO's golf course.
