IL & FS to invest in 500 key, J W Marriot hotel at Delhi
With increasing demand for the star category hotels in India , Especially in the Metros of the country, A new 500 key hotel is coming up, very close to the recently launched 3rd terminal of Indira Gandhi International Airport at New Delhi.
The project is estimated worth of 700 crores and shall be run under the brand name of J W Marriott. IL&FS, a private realty fund player, through it’s India Realty Fund II, has invested Rs 80 crore for a minority stake in Aria. Aria, a subsidiary of Asian Hotels (West), has a contract with JW Marriott International to manage the property for 30 years.
