Jain Group ties up with Thai hospitality firm for managing new property in Kolkata

Leading real estate developer Jain group on Monday said it has partnered with Thailand-based hospitality firm Dusit International for managing a new property in New Town on the northeastern fringes of the city.

Leading real estate developer Jain group on Monday said it has partnered with Thailand-based hospitality firm Dusit International for managing a new property in New Town on the northeastern fringes of the city. The four-star property with 126 rooms will be built at a cost of Rs 80 crore, Jain Group's VP Shrayans Jain said.

"We are collaborating with Dusit International of Thailand for managing a new four-star property in New Town. It will be ready by the second quarter of 2022," he said at a virtual press conference. The real estate company owns the Holiday Inn property in New Town and has been looking for a partner which fits with its corporate ethos, he said.

"We have found Dusit as our right partner. We also want to increase our hospitality footprint in the country", he said. Jain said the Thai hospitality firm presently manages around 300 hotels across 13 countries.

Dusit International chief operating officer Boom Kwee Lim said, "We are managing a hotel in New Delhi. This is our second venture in India. It is an important market for us." The Kolkata-headquartered group is going ahead with this venture in the current challenging times as the realtor is bullish on the hospitality industry, Jain said, adding that the COVID-19 pandemic is temporary. Lim said the present situation provides an opportunity for the hospitality sector as it takes two to three years to build a hotel.

Dusit Princess, a brand of the hotel major, will primarily target corporate travellers, Jain added..