Mindspace and Chalet Hotels Partner for Luxury Hotel in Hyderabad

Mindspace Business Parks REIT is set to develop a luxury hotel in Hyderabad, investing Rs 350 crore. Pre-leased to Chalet Hotels Ltd, the 339-key project will be part of Mindspace Madhapur's expansive business campus. Completion is expected by 2027-28, enhancing the site's business and luxury appeal.

Mindspace Business Parks REIT has announced plans to construct a luxury hotel in Hyderabad, with an investment pegged at Rs 350 crore. The hospitality project, featuring 339 keys, has been pre-leased to Chalet Hotels Ltd, according to a regulatory filing made on Wednesday.

The building, which will occupy 5.3 lakh sq ft of leasable space within the Mindspace Madhapur campus, is part of a larger development plan that aims to strengthen the existing business and leisure environment in the area. Completion of this venture is anticipated in the fourth quarter of 2027-28.

The Mindspace Madhapur campus, a vast 13 million sq ft of premium IT/ITeS office space, already boasts two Westin hotels and the Inorbit Mall. Ramesh Nair, CEO and MD of K Raheja Corp Investment Managers Pvt Ltd, emphasized the strategic advantage offered by partnering with Chalet Hotels, enhancing revenue potential and increasing appeal for business occupiers.

(With inputs from agencies.)