New Delhi: Oswal Group's realty firm Vardhman Amrante Pvt Ltd will invest Rs 260 crore to build a hotel in Ludhiana, Punjab, and has roped in Marriott International to manage the 200-keys hospitality project.
Vardhman Amrante signed an agreement with Marriott International on Monday to bring the 'Westin Hotels & Resorts' brand in Ludhiana.
"We will invest about Rs 260 crore to develop this 5-star hotel. This will be the largest hotel property in the city," Oswal Group Chairman Adish Oswal told reporters here.
He said the hotel will be part of a seven-acre commercial project with a total development potential of 17 lakh sq ft area.
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Oswal said the construction of this upcoming hotel will start next year and the hospitality project is scheduled to be open in the last quarter of 2030.
In May, Vardhman Amrante announced an investment of Rs 1,350 crore over the next three years to develop 3-4 projects in Ludhiana and some other cities in Punjab as part of its expansion plan.
Ludhiana-based Oswal Group, which is into the textile business, entered the real estate sector in 2014.
The company has developed 15 lakh sq ft area in the residential segment so far and is building a shopping mall covering 2.75 lakh sq ft area.
Oswal Group has a listed entity -- Vardhman Polytex -- which posted a total revenue of Rs 400 crore in the 2023-24 financial year.
Mariott International operates 158 hotels across the country under 18 brands. Four of these are in Punjab.
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