Minor Hotel Group announce launch of Oaks brand in India
Minor Hotel Group (MHG), a hotel owner, operator and investor, currently with a portfolio of 136 hotels and resorts in 22 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean, has announced the first Oaks property in India with the development of Oaks Neemrana, in partnership with India-based NSP Associates (India) Pvt. Ltd.
Dillip Rajakarier, CEO of Minor Hotel Group, commented, “We are excited to announce both the first Oaks in India and also the first Minor Hotel Group property in India. The Oaks brand is a great fit for this market, which represents a huge opportunity, and we are confident that the property will be a great success. We are delighted to be partnering with NSP Associates and look forward to working closely with the team to bring this new hotel to the market.”
Neemrana is a fast developing business hub located southwest of New Delhi, on the Delhi Mumbai Industrial Corridor, a mega infrastructure project worth US $90 billion, approximately 90 km from Gurgaon and 140 km from Jaipur. Its history dates back to the 15th century with the construction of the famous Neemrana Fort Palace, which was restored in 1991 and subsequently converted into a hotel that began attracting tourists to the destination. Now a major industrial hub with a Japanese and Korean investment zone, Export Promotion Industrial Park, RIICO Industrial Zone one and two and Knowledge City, the buoyant economy of the region is making Neemrana a lucrative option for individuals and companies to bring their businesses.
Oaks Neemrana is under development in the centre of the town and is scheduled to open in 2017. The new property will be housed above NSP Arcadia Mall which is also currently under construction and will offer a supermarket, banks, department stores and retail outlets, along with restaurants and family entertainment including a multiplex cinema. An additional internationally branded hotel is under development in the neighbouring tower, which is expected to open shortly after the mall and Oaks.
Facilities at the 116 unit Oaks Neemrana will include an all-day dining restaurant with sky garden, a lobby café and lounge area, a pool bar, meeting space of 160 square metres with capacity to accommodate up to 80 people, plus a gym and a kids’ play area. There will be three different room types: 68 Studio Apartments; 40 One Bedroom Apartments and eight Two Bedroom Apartments.
Units at Oaks Neemrana will be sold to individual purchasers as investment properties leased back into a rental pool. Cushman & Wakefield are the exclusive sales agents for the property.
Nitish Bansal, CEO of NSP Associates (India) Pvt. Ltd. commented, “Now with our strategic association with Minor Hotel Group for Oaks Hotels & Resorts, I’m very optimistic and equally confident that the property will generate desired returns and will become a landmark location in the region. I had a vision of providing a holistic experience to the residents and investors and we at NSP worked hard to make this possible by ensuring high returns, property appreciation and premium quality amenities.”