The property spread across 45 acres is currently undergoing minor renovation to meet ITC's sustainability practises, the company stated.
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Under the terms of the agreement with the Indian operator, as of 2018, Orange Tiger will be operating eight hotels under brand Kyriad by mid – October and fifteen by the end of this financial year and then at least ten new hotels will open every year.
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With this partnership, OYO aims to create a sustainable ecosystem powered by technology and artificial intelligence for managing hotels and assets.
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The erstwhile MSR Hotel and Spa Bangalore began its operations in 2011 under the brand name of Movenpick Hotel and Spa Bangalore; a strategic partnership between MSR Hotels Pvt. Ltd and the Swiss Hospitality giant Movenpick Hotels and Resorts.
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In addition, AccorHotels will invest $194 million in a new preferred debt instrument that will be used to redeem all existing preferred units, also held in part by Cain International. AccorHotels’ total investment in sbe will be $319 million.
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The NDMC had last year decided to re-auction the Asian Hotel, after sealing it in 2015 due to non-payment of license fees dues.
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The new management has taken over the property from May 20 and will be rebranded as Gokulam Grand Hotel & Spa.
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The Hyatt Regency Amritsar delivers a full range of intuitive services and amenities, including notable culinary experiences; technology-enabled ways to collaborate; the space to work or relax.
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