174 Key Four-Star Branded Hotel, Under Construction, Kempegowda International Airport, Bangalore, India For Sale
Location: 10 minutes drive from the airport, Bangalore, India. One hour to Bangalore CBD
Name: TBA
Guide Price: INR 85 Crore – around US$11m – as is. Budget to complete: US$ 7m
Guide Price per Key: INR 4.88m – around US$64k – completed US$110k
No. of Keys: 174
The Opportunity:
This four-star select-service hotel is currently under construction, 70% complete. The hotel has a well-appointed lobby with lounge, a multi-cuisine restaurant and bar, boardroom and meeting rooms to hold small numbers, but there is scope to change this, a fitness centre, with outdoor swimming pool.
The hotel is a 10-minute drive to the Bengaluru International Airport (BIAL), an hour away from MG Road & business parks Bangalore and is part of a 150-acre Township which houses business parks, hospitals, schools & housing.
The land size is 1.15 acres, with a built-up area of 160,000 sqf, over 2 basements, ground floor and six upperfloors and a roof-top terrace.
The hotel has an agreement with a top-ten global brand for management and marketing…but VP is an option. The hotel would take six to nine months to complete and open, with all required construction approvals in place.
The sale would be through a clean SPV, which is cost-efficient. SM
Flag & Management: Top brand in place with HMA or Vacant Possession
Current Owner: Local company – reputable residential builders, planned to enter hospitality with this project, but plans have changed
Main Photo: The facade of the hotel as is
Financials: Full IM, business plan and budget to complete upon EOI
Tenure: Freehold
Agent: Local agent in partnership with THPT – Buyer would need to retain THPT
Date Posted: March 2022
THPT Comment: A well-appointed branded hotel, close to the international airport that would make a great addition to a hotel chain looking to add Banaglore to it’s location list, with a VP option
Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each week we mail the opportunities posted in that period, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all.
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market. For more information – Visit www.thpt.co.uk or email [email protected]
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.
