US-based Pacifica Companies to Build another Five (5) Star Hotel in Gujarat, India

US-BASED Pacifica Companies India, founded a non-resident Indian, is set to build its second five-star hotel in Ahmedabad, Gujarat, India even as construction for the first one is about to begin. The second five hotel will be built with an estimated investment of Rs.1.5-2 billion along the Sarkhej-Gandhinagar High way on the western fringe of Ahmedabad, Gujarat, India. The SG Highway, as it is better known, is the new corporate address of the city. San Diego, California-based Pacifica companies was founded in 1978 by Ashok (Ash) Israni, Its new five-star hotel in Gujarat, India will be built on land formerly owned be the Tourism Corporation of Gujarat Ltd(TCGL), for which Pacifica companies successfully put up a bid of Rs.240 million, a source told IANS. Under the sale guidelines it has been specifically laid down that the property can be used only for tourism related project though earlier there were indications that Pacifica may build a mall there.

Pacifica companies’ hotel portfolio currently contains over 30 properties located in Arizona (AZ), California (CA), Florida (FL), Texas (TX), and New York (NY). Most of the hotels have recognized brand names such as Marriott, Courtyard by Marriott, Best Western, Holiday Inn, DoubleTree, Clarion, Hilton and Radisson. Pacifica’s first hotel project in Ahmedabad, Gujarat, India is a five-star business class hotel in association with the Marriott International lodging company. With 160-plus rooms, it will be the largest five-star hotel in Ahmedabad, Gujarat, India, according to Pacifica. It is coming up in a posh satellite area of western Ahmedabad adjacent to the SG Highway. The location is in close proximity to prime residential areas, retail outlet space and institutional space.

With the new sale, TCGL has disposed of eight of its properties in the states so far. The corporation is now focusing on the sale of another 12 properties across the state. These include the Chorwad beach resort in Junagadh district in Saurastra. TCGL by this strategy will now focus only on development of tourism in the state, sources said. Pacifica has nearly $2 billion in assets. Pacifica Hosts Inc., the hotel management arm of Pacifica Companies, currently manages over 30 hotels of various sizes, the largest being a 600-room hotel at the Los Angeles International Airport.

Article Source: http://www.realestatepropertyarticles.com.

About the Author:
SEO Executive Avadhesh Mahajan.