Assotech, Lemon Tree tie-up to manage, operate Sandal Suites

NEW DELHI: Assotech Realty on Thursday announced its strategic alliance with Lemon Tree Hotels Group, a chain of hotels in the country, to manage and operate its premium serviced residences offering Sandal Suites.

The first project under the aegis of Sandal Suites will be launched in Assotech Business Crestera in Noida. The two companies together plan to launch eight to ten similar projects in a phased manner over the next five-seven years with an investment of about Rs. 800-900 crore. Some of the target cities for the project in the initial phase include Ahmedabad, Hyderabad, Goa, and Bangalore.

Lemon Tree Hotels Group (through Carnation Hotels) will act as the strategic partner in providing the design consultancy to the project in the initial phase and managing the day-to-day operations of Sandal Suites later. Carnation Hotels is a subsidiary of LTHG which engages with realty players to manage operations of their serviced residences.

Sandal Suites operated by and managed by LTHG will have 210 keys. The serviced apartment complex will have unique service offerings like a 24×7 dinner restaurant, bar, private club, banquet and business centres along with the rooms. Sandal Suites aims to address the needs of transit stay, extended stays as well as other segments.

Speaking on the occasion, Neeraj Gulati, MD, Assotech Realty Pvt. Ltd, said, “Noida Expressway is a fast-growing IT & ITES commercial hub on the international grid, attracting business travelers and expatriates from across the globe. However, lack of branded international standard serviced apartments in the Noida Expressway spells the need and great business potential for fine service residence, Sandal Suites.”

Rattan Keswani, Deputy MD, The Lemon Tree Hotels Group and Chairman of Carnation Hotels, said “We are delighted to partner with Assotech Realty. With this alliance, we step into a new horizon of serviced residences with the aim to accelerate our growth plans in India.”

Advertisement

Advertisements