Pacifica Companies, the San Diego-based real estate and asset management group, has marked its foray into the Indian hospitality sector. The company is focused on building its hospitality portfolio in the country. Presently, it is developing hotels in Ahmedabad, Bengaluru, Hyderabad and Baroda. It is developing two properties in Bengaluru. The properties in Ahmedabad and one in Bengaluru will be developed under the Courtyard by Marriott brand. The group is yet to sign an operator for the other three properties.
Speaking exclusively to Hospitality Biz about the development, Sumit Bhasin, V P Land Acquisitions & Asset Management - Hospitality Division, Pacifica Companies states, “We are strongly looking to establish our presence in the Indian market. Internationally, we work with brands like Marriott, Hilton and Radisson and aim to synergise our alliances for the Indian market as well.” The 164 room property in Ahmedabad is expected to start operations by March 2009; it is as per an MoU signed by the company with the Gujarat government during Vibrant Gujarat 2007. |