Tata Group company to invest Rs 100 Cr and run Cochin Airport's hotel project
CIAL constructed the hotel as part of its land utilisation programme and also to provide the passengers with hospitality services at par with international standards.
Tata Group's Indian Hotels Company Limited (IHCL), which owns the luxury hotel brand 'Taj', will operate Cochin International Airport Limited's (CIAL) five-star hotel at the airport premises with an estimated investment of Rs 100 crore, a release said on Thursday.
CIAL constructed the hotel, which is ideally located near the airport entrance, as part of its land utilisation programme and also to provide the passengers with hospitality services at par with international standards. Taj CIAL at Cochin Airport is expected to be launched by the middle of 2024.
The airport said it has awarded the contract to IHCL, with Rs 100 crore expected to be invested by the company for the standardisation of its interiors in accordance with the Tata brand's grade.
CIAL has completed the civil, mechanical, electrical, and plumbing works of the hotel and it will be handed over to IHCL soon for the development of the interiors.
As per the contract, IHCL will share a percentage of the gross revenue generated from its operation with CIAL.
Commenting on the partnership, CIAL Managing Director S Suhas said its collaboration with IHCL will give a fillip to the airport operator's development plan that envisages integration of aviation with the tourism and hospitality sectors.
"We are looking forward to this association. As the Taj Group is one of the renowned luxury hotel operators in the world, we hope that this collaboration will spur our plan to increase revenue from non-aero verticals. CIAL is eyeing exponential growth in air traffic movement with the introduction of the new fleet of aircraft by Tata-owned Air India."
CIAL is hoping that this agreement will enhance the scope for a more meaningful association with one of the biggest airlines in the world, Suhas added.
He attributed the success of CIAL's ambitious hotel project's bidding process to the guidance given by Kerala Chief Minister Pinarayi Vijayan, who is also the chairman of CIAL and its Board of Directors.
The Taj Group informed that the project would become one of the most luxurious properties in Kerala.
Presently, they have almost 20 properties operating and upcoming in Kerala and this project is going to be 5th in Kochi, and the third largest.
CIAL's star hotel project is going to be a 112-room five-star hotel spreading across four acres of land very next to the airport entrance, occupying a building footprint of 2.04 lakh sq ft.
The hotel is located opposite Cochin International Airport and boasts an uninterrupted view of the airport on one side and the mountains on the other.
CIAL, which commissioned its ultra-luxurious business jet terminal in December 2022 owns an 18-hole golf course, and a convention centre and plans to scale up its portfolios in the hospitality sector by adding more non-aero projects including a commercial zone.
Edited by Kanishk Singh