Kolkata, February 25 Apeejay Surrendra Park Hotels Ltd expects to generate approximately ₹350 crore from a 69-unit serviced residence project on the EM Bypass in Kolkata, being developed in collaboration with Ambuja Neotia Group. The proceeds are expected to fund the company's upcoming 218-key luxury hotel in the city, a senior company official said on Wednesday.
The project marks the first collaboration between the two Kolkata-based groups, both of which have significantly shaped the city's hospitality and real estate landscape for decades.
The project will be located on a 3.35-acre land parcel owned by Apeejay Surrendra Park Hotels.
Of the total land, 51 per cent has been allocated to the hotel, with the remaining portion for the residential component. Both projects are targeted for completion by 2030.
Park Hotels managing director Vijay Dewan told
