-The hotel will cost Rs 150-200 crore; group's first one will come up in Satellite area.
-Pacific's five star hotel will be built on land formerly owned by TCGL
-The Location in close proximity to prime residential areas, retail outlets
-The hotel will have a total of 160 rooms
US based Pacifica Companies (www.pacificacompanies.co.in), founded by a non-resident Indian, is set to build its second five-star hotel in Gujarat even as construction for the first one is in progress.
The second hotel will be built with an estimated investment of Rs150-200 crore along the Sarkhej-Gandhinagar Highway in Ahmedabad.
San Diego-based Pacifica was founded in 1978 by Ashok(Ash) Israni. Its new five-star hotel in Ahmedabad, Gujarat, India will be built on land formerly owned by the Tourism Corporation of Gujarat Ltd(TCGL), for which pacificacomapnies.co.in successfully put up a bid of 24 corer, a source said.
Under the sales guidelines, it has been specifically laid down that the property can be used only for tourism-related projects though earlier there were indication that Pacifica Companies may build a mall there (Mix-Used Property)
Pacifica Companies? hotel (projects) portfolio currently includes over 30 properties located in Arizona (AR), California (CA), Florida (FL), Texas (TX) and New York (NY). Most of the hotels are recognized brand names such as Marriott, Courtyard by Marriott. Best Western, Holiday Inn, Doubletrees, Clarion, Hilton and Radisson.
Pacifica's first hotel project in Ahmedabad, Gujarat is a five-star business class hotel in association with the Marriott international lodging company. with 160-plus rooms, it will be the largest five-star hotel in Gujarat, according to Pacifica Companies.
It is coming up in Satellite area of Ahmedabad adjacent to SG Highway The location is in close proximity to prime residential areas, retail outlet space and institutional space.
With the new sale, TCGL has disposed of eight of its properties in the state so far. The corporation is now focusing on the sale of another 12 properties across the state. These include the chorwad beach resort in junagadh district of Saurastra.
TCGL by this strategy will now focus only on development of tourism in the state, sources sold.
Pacifica has nearly $2 billion in assets. Pacifica hosts Inc, the hotel management arm of Pacifica Companies, currently manages over 30 hotels of various sizes, the largest being a 600 room hotel at the Los Angeles International Airport.
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