SAPTARISHI HOTELS PRIVATE LIMITED - ICRA
SAPTARISHI HOTELS PRIVATE LIMITED - ICRA
SAPTARISHI HOTELS PRIVATE LIMITED - ICRA
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>ICRA</strong> Credit Perspective Saptarishi Hotels Private Limited<br />
Company Profile<br />
SHPL is an SPV company set up to build and own a 200 key 4-star business hotel and 40 key service<br />
apartments at Gachibowli in Hyderabad. The property which is under construction would be operated by<br />
Hilton Hotels Worldwide under its 4-star business brand Double Tree by Hilton and is expected to<br />
commence operations by January 2014. SHPL is an SPV promoted by Maha Hotel Projects Private Limited<br />
(MHPPL) who won this project which is a PPP with National Institute of Tourism & Hospitality Management,<br />
Hyderabad (NITHM).<br />
MHPPL is also the lead developer of the project Trident & The Oberoi at Hitec City, Hyderabad which is<br />
also a PPP project with GoAP that is nearing completion, and for which MHPPL has formed a JV with JP<br />
Morgan Property Fund and Indus Hotel Realty Fund Mauritius named Core Hotel Ventures Private Limited<br />
which in turn is working in technical & equity collaboration with EIH Limited and building the said hotels in<br />
an SPV named Golden Jubilee Hotels Limited (rated [<strong>ICRA</strong>]BB+(stable)/[<strong>ICRA</strong>]A4+).<br />
November 2011<br />
<strong>ICRA</strong> Rating Services Page 4
Change language