Strategic $18m Hotel Sale in Bengaluru by Hansoge Enterprises

Strategic $18m Hotel Sale in Bengaluru by Hansoge Enterprises

By Author

Published on January 7, 2024

In a significant move in the hospitality sector, Hansoge Enterprises has sold a boutique hotel in Bangalore for a whopping $18 million (Rs 1.5 billion). This deal marks a notable transaction in the bustling city's real estate market.

The hotel, a mid-scale property boasting 175 rooms, is conveniently located near the Bengaluru International Airport in Karnataka. With an impressive size of over 150,000 square feet, the hotel is expected to be fully operational by the end of this year.

Previously, the hotel was part of a portfolio held by JC Flowers, a renowned asset reconstruction company (ARC), along with other parties. JC Flowers Asset Reconstruction had made headlines in 2022 when it acquired non-performing assets from Yes Bank, taking on stressed loans amounting to Rs 480 billion.

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The sale of this boutique hotel in Bangalore signifies a strategic move for both Hansoge Enterprises and the unnamed ultra-high-net-worth individual who purchased the property. According to insiders familiar with the deal, the transaction was carefully structured to meet the business objectives of both the sellers and the buyer. The buyer, in particular, is keen on establishing a strong presence in this vibrant metro area.

Colliers India, a diversified real estate services provider, played a pivotal role in facilitating this transaction. Piyush Gupta, the managing director of capital markets and investment services at Colliers India, expressed satisfaction with the successful closure of the deal, attributing it to the team's deep understanding of the various challenges involved.

This recent sale comes on the heels of another notable development in Karnataka's hospitality industry. In October last year, the state welcomed Planetree The Fern Resort & Spa. Located in Chikmagalur, this resort features 70 rooms equipped with various amenities, further enriching Karnataka's hospitality landscape.


IHCL Signs Ginger Hotel in Sindhudurg, Expands Maharashtra Portfolio

IHCL Signs Ginger Hotel in Sindhudurg, Expands Maharashtra Portfolio

By Manu Vardhan Kannan

Published on July 30, 2026

Indian Hotels Company (IHCL) has announced the signing of Ginger Sindhudurg in Maharashtra. The project is a conversion of a standalone hotel and will be expanded to a 50-key property, further strengthening the company's presence in the state.

Commenting on the signing, Ms. Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL, said, “Sindhudurg is emerging as a sought-after leisure destination on Maharashtra’s Konkan coast, driven by improving connectivity, growing visitor footfall and increasing demand for short stay travel. Its accessibility from key feeder markets like Mumbai, Pune and Goa, along with its scenic coastline, positions the destination for sustained tourism growth. This signing reflects our strategy of expanding the brand’s presence in high-potential destinations and we are happy to partner with Ms. Sawant for this project.”

The upcoming Ginger Sindhudurg will feature an all-day dining restaurant, a bar, a swimming pool, and a fully equipped gym. The hotel will also include dedicated meeting rooms and a banquet hall, catering to business meetings, conferences, and social events.

Speaking about the partnership, Mrs. Priyanka Sawant said, “We are delighted to partner with IHCL to bring the Ginger brand to Sindhudurg. We look forward to working with IHCL and contribute to the destination’s growing tourism appeal.”

Located along Maharashtra's scenic Konkan coastline, Sindhudurg is known for attractions such as Sindhudurg Fort, Sawantwadi Palace, Moti Talav Lake, and the pristine Tarkarli beaches. The destination has been witnessing growing interest from leisure travellers, supported by improved connectivity and increasing tourism.

With this signing, IHCL's portfolio in Maharashtra grows to 66 hotels, including 34 hotels under development, reinforcing the company's expansion strategy across key leisure and business destinations.


Hyatt Place Debuts in Vithalapur, Strengthening Hospitality in Gujarat's Industrial Hub

Hyatt Place Debuts in Vithalapur, Strengthening Hospitality in Gujarat's Industrial Hub

By Manu Vardhan Kannan

Published on July 30, 2026

Hyatt Hotels Corporation has announced the opening of Hyatt Place Vithalapur, marking the debut of the Hyatt Place brand in Vithalapur, Gujarat. The 108-room hotel becomes the first globally recognized hotel brand in the fast-growing industrial destination, offering modern comfort, convenience, and efficient service for both business and leisure travellers.

Strategically located in one of India's rapidly expanding manufacturing corridors, Hyatt Place Vithalapur is well positioned to cater to the increasing number of corporate travellers visiting the region. With leading global companies, particularly from the automobile sector, strengthening their presence in Vithalapur, the destination continues to emerge as an important centre for industrial growth in India.

Commenting on the opening, Bhuwan Chandra, General Manager, Hyatt Place Vithalapur, said, "As Vithalapur rapidly transforms into a pivotal hub in India’s manufacturing ecosystem, we are excited to introduce Hyatt Place Vithalapur to the market. With this debut, we’re not just opening a hotel, we’re creating a hospitality experience that aligns with the ambitions of the region. Hyatt Place Vithalapur is thoughtfully designed to support the evolving lifestyles of modern business travelers, offering the perfect blend of comfort, connectivity and convenience."

Designed to meet the needs of today's travellers, the hotel offers a range of contemporary guestrooms and suites, including King and Twin rooms, King Deluxe, and Premium rooms, with several rooms featuring private balconies overlooking the swimming pool.

Guests can dine at Zing, the hotel's all-day dining restaurant, which offers a variety of global cuisines along with live kitchen experiences. The property is positioned to serve business travellers, conference delegates, and international guests looking for a comfortable and well-connected stay.

Sharing his thoughts on the launch, Mr. Vijay Maan, Director, Sukhmaa Group, said, “Collaborating with Hyatt for this opening is not just a business milestone, it is a dream taking shape. This relationship is built on a shared vision to bring world-class hospitality to a region that has long deserved global attention. We believe this hotel will not only serve as a premium stay for guests across a variety of travel occasions, but will also spark new energy, pride and opportunity for the local community. With Hyatt’s legacy of excellence and our deep-rooted commitment to this area, we’re creating more than a hotel, we’re creating a landmark that reflects the growth and momentum of Vithalapur.”

With its debut in Vithalapur, Hyatt Place strengthens Hyatt's presence in India's growing industrial markets while providing a modern hospitality option for travellers visiting one of Gujarat's fastest-developing business destinations.


Lemon Tree Hotels Signs Keys Select Property on Indore–Ujjain Highway

Lemon Tree Hotels Signs Keys Select Property on Indore–Ujjain Highway

By Manu Vardhan Kannan

Published on July 30, 2026

Lemon Tree Hotels Limited has announced the signing of Keys Select by Lemon Tree Hotels, Panthpiplai, Ujjain in Madhya Pradesh. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.

With this addition, Lemon Tree Hotels' portfolio in Madhya Pradesh has grown to 15 properties, including three operational hotels and 12 upcoming properties, further strengthening the group's presence across the state's key commercial and pilgrimage destinations.

Located on the Indore–Ujjain Road, the upcoming hotel enjoys a strategic location between Indore, the state's commercial hub, and Ujjain, one of India's most important spiritual destinations. The property is expected to cater to a diverse mix of business, leisure, and pilgrimage travellers visiting both cities.

The hotel will feature 51 well-appointed rooms, a restaurant, a banquet hall, a meeting and conference hall, a swimming pool, and a fitness centre. Positioned in the midscale segment, the property is designed to offer a comfortable and convenient stay for guests travelling between Indore and Ujjain.

Commenting on the signing, Vishvapreet Singh Cheema, President, Lemon Tree Hotels Ltd., said, “Panthpiplai presents a compelling opportunity, with Ujjain seeing significant investment in infrastructure and tourism, building on its long-standing importance as one of India's foremost spiritual destinations. Its proximity to Indore, a major commercial and industrial centre, further strengthens the location's potential. As a trusted midscale brand, Keys Select by Lemon Tree Hotels is well suited to this market, offering guests a dependable, comfortable and contemporary stay at the right value. With Simhastha 2028 further elevating Ujjain's profile and continued infrastructure development strengthening connectivity, we see strong potential for the hotel and the market in the years ahead.”

The property also offers excellent connectivity to major transport hubs. Devi Ahilyabai Holkar Airport, Indore, is approximately 41 km away, while Ujjain Junction Railway Station is located around 18.5 km from the hotel, making it easily accessible for travellers.

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