The Hindu : Business : Indian Hotels and Health opens Ista

Online edition of India's National Newspaper
Tuesday, Jul 11, 2006

Business

Business

Indian Hotels and Health opens Ista

Special Correspondent

To establish business hotels

BANGALORE: Indian Hotels and Health Resorts (IHHR) Hospitality Private Limited, which has Ananda Spa as its flagship brand, has now moved into the business class of hotels with the opening of Ista, Bangalore. IHHR will be investing nearly Rs. 500 crore to set up the Ista brand of business hotels across the country.

The Chairman of IHHR, Gautam Khanna, told presspersons here on Friday, on the launch of 143 rooms and suites Ista, Bangalore, that the investment would be made in properties coming up in Hyderbad, Ahmedabad, Pune and Amritsar by 2008.

Besides, the group is planning a second project in Bangalore with 70 rooms. The investment would be through internal accruals and debt in the ratio of 60:40.

Mr. Khanna said the company would be opening its second Spa, on the lines of Ananda, in Mauritius by the year-end. The project was worth $35 million.

The Managing Director of IHHR, Ashok Khanna, said the group would be starting a Spa training institute at the Hyderabad property.

The course would commence next August with an intake of 60 students.

Ista, Bangalore, he said, would focus on the needs of the business traveller and this is reflected in the design details.

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