Location: Tirupati, Andhra Pradesh, India – North of Chennai
Name: Holiday Inn – 10 year agreement (renewable for a further 10 years) signed
No. of Keys: 215
The Property: YKM, the project owner is a private company headed up by Dr Y Krishna Mohan and Mr Y Madhu Mohan , that is into hospitality, hospitals, health-care, travel & tourism, construction and real-estate.
The seven story, five-star hotel will have 215 rooms, a 1,000 pax convention centre, wellness centre with Bariatric Spa and pool, and Courtyard (an open-marriage garden), parking for 190 cars, over an area of 6.93 acres, close to Tirupati International Airport.
The building work is 100% finished – just requires 40 – 44 Crs (around US$6m or £4.5m) for the final finish.
Main Photo: The proposed Holiday Inn
Brand/Management: IHG – Holiday Inn, with a 10 year agreement, with a further 10 year extension, so commence when the hotel opens.
Financials: Full financials available upon signing a NDA and LOI
Current Owner: YKM Entertainment & Hotels
Agent: The Hotel Property Team
Investment: 136 Crs required to pay off the bank debt (State Bank of India) plus 44 Crs for the finish. Around US$25m or £20m
Date Posted: October 2019
THPT Comment: A great opportunity to buy this five-star hotel in a great part of India.
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This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.