In Noida, domestic and international hotel brands vie to grab a share of the traffic going to the Taj Mahal on the Yamuna Expressway. Real estate developer BPTP has roped in Fairmont to run upcoming hotel in Noida. Fairmont is a Canadian luxury hotel operator, which has signed a hotel management contract with BPTP.
The hotel will come up on a portion of the 21 acres of land that BPTP owns in sector 94. The company is already building a 500-room Grand Hyatt at the same location.The fivestar Fairmont hotel will have 175 rooms and 100 Fairmont residences. This is Fairmont's second hotel in the country after the one in Jaipur.
The Fairmont property that should be operational by 2016, will add to the growing list of hotels in the area as operators and real estate developers bet on the increase in business traffic. These include Four Seasons, ITC, Hyatt, Marriott and others. Another developer, Supertech, had recently brought in the Leela group to manage a 250-room hotel next to BPTP's land.
According to hotel consultancy HVS, about 7,000 additional rooms are being planned in Noida, of which only 35 per cent will finally be delivered. Yet experts expect an oversupply situation in the market.