IHR Hospitality Group plans to invest INR750 crore to develop its hotel portfolio across India over the next five years as it opens its fourth Ista branded hotel in Pune today. The 209-room property boasts two restaurants, a spa and lounge bar which are typical features of the contemporary luxury brand of city hotels. The Pune property required a total investment of INR200 crore and IHHR is looking to set up properties in cities like Nagpur, Navi Mumbai, Coimbatore, Jaipur and Ahmadabad in the near future. Ashok Khanna, Managing Director of IHHR Hospitality, told Business Standard; “Pune is an integral part of our expansion plan and we are pleased to open hotel Ista in the city. We are planning major expansion across India with the total investment of INR750 crore in the next five years. Also, we are promoting the spa service which is our unique facility under the brand name Ananda. This has proved to be a critical differentiator for us in the market, one that we look forward to bringing to our Pune debut.” Nikhil Kapur, General Manager of the Hotel Ista Pune says the hotel will appeal to both corporate and leisure travellers and he expects a 70% occupancy rate.
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