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Maiden Swiss foray into India's hospitality sector

Wednesday, September 09, 2009 (16:54:58) Tags: Business, Hospitality, Swissotel Kolkata: Swissotel Hotels today became the first Swiss hospitality chain to enter India as it announced a management contract with the Ambuja Realty group for setting up a five-star hotel at Rajarhat New town on the city's north eastern fringes. Swissotel Hotels, owned by Fairmont Raffles Hotels International - a leading global hospitality company with 91 hotels and resorts worldwide - has inked the 10-year deal with the Kolkata-based real estate company for managing the five-star property spread over 160,000 feet. "We won't make any investment. We will be paid a fee for running the hotel," Swissotel president Meinhard Huck told reporters here. Ambuja is investing Rs.100 crore ($20 million) for the hotel, which would use the Swissotel brandname, said the company chairman Harshavardhan Neotia. Huck said the Fairmont group would come up with two hotels with Indian partners in Hyderabad and Jaipur under the Fairmont brand next year. (IANS)