Ashiana Housing ties up with Hyatt for a 4- star hotel in Jamshedpur

Ashiana Housing will invest about Rs 50 crore in developing a hotel-cum-shopping mall project in Jamshedpur and announced tie-up with global hospitality chain Hyatt for management.

The project is coming up with a 4-star business hotel, comprising of 120 rooms in Jamshedpur. For managing the hotel, The company has tied up with Hyatt to set up 'Hyatt Place hotel'

Besides hotel, the project would have 80,000 sq ft of shopping complex.

The company would invest about Rs 50 crore in the next 30 months on construction of this project. The planned investment would be funded through internal accruals and debt, he added.

At present, Ashiana is developing seven projects, out of which three are in Jaipur and one each in Bhiwadi, Jodhpur, Jamshedpur and Pune. It is building a retirement resort at Lavasa township in Pune.